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Suppose Your Bank Pays You 6% Interest Per Year on Your

Question 65

Multiple Choice

Suppose your bank pays you 6% interest per year on your savings account.If prices increase by 3% per year over that time,approximately how much nominal value do you gain by keeping $100 in the bank for a year?


A) $0
B) $3
C) $6
D) $106

Correct Answer:

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