After a 1 year investment you receive 8.7% interest (nominal) from your bank. However, looking at how
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Question:
After a 1 year investment you receive 8.7% interest (nominal) from your bank. However, looking at how prices have changed, you soon realize that the real rate of interest was actually 2%. How much was inflation during that year?
Enter your answer as a percentage, rounded to 2 decimals, and without the percentage sign ('%'). For example, if your answer is 0.02345, then enter 2.35
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date: