Question: 8) What is the true purchasing power one year from now of $1,000 in a savings account, if it is earning 2 percent APY and

8) What is the true purchasing power one year from now of $1,000 in a savings account, if it is earning 2 percent APY and inflation is 3 percent?

Multiple Choice options:

$1,000.00

$1,020.00

$990.00

$1,010.00

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