Multiple Choice
Over the past year you earned a nominal rate of interest of 14 percent on your money.The inflation rate was 2 percent over the same period.The exact actual growth rate of your purchasing power was
A) 11.76%.
B) 16.00%.
C) 15.02%.
D) 14.32%.
E) none of the above.
Correct Answer:
Verified
Correct Answer:
Verified
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