Multiple Choice
In 2016 the nominal interest rate paid by banks on savings deposits was 0.55 percent. At the same time the inflation rate was 1.5 percent. What was the real interest rate paid on savings?
A) -2.05 percent
B) -1.05 percent
C) 0) 55 percent
D) 2.05 percent
E) 3.10 percent
Correct Answer:
Verified
Correct Answer:
Verified
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