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Jordan Loaned Taylor $1,200 on March 15,2009

Question 76

Multiple Choice

Jordan loaned Taylor $1,200 on March 15,2009.Taylor returned $1,260 on March 14,2010.Inflation was 2% over the 1-year period.What is the real interest rate that Taylor paid?


A) 2%
B) 3%
C) 5%
D) 7%

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