Multiple Choice
A year ago,you invested $1,000 in a savings account that pays an annual interest rate of 7%.What is your approximate annual real rate of return if the rate of inflation was 3% over the year?
A) 4%.
B) 10%.
C) 7%.
D) 3%.
E) none of the above.
Correct Answer:
Verified
Correct Answer:
Verified
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