Multiple Choice
A year ago, you invested $10,000 in a savings account that pays an annual interest rate of 5%. What is your approximate annual real rate of return if the rate of inflation was 3.5% over the year?
A) 1.5%
B) 10%
C) 7%
D) 3%
E) None of the options are correct.
Correct Answer:
Verified
Correct Answer:
Verified
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