Multiple Choice
On January 1, 2015, Anna invested $5,000 at 5 percent interest for one year. The CPI on January 1, 2015 stood at 2.37. On January 1, 2016, the CPI was 2.40. The real rate of interest earned by Anna was ________ percent.
A) -5
B) 3.7
C) 5
D) 9
Correct Answer:
Verified
Correct Answer:
Verified
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