A study has estimated the effect of changes in interest rates and consumer confidence on the demand for money to be: ln M $=14\mathrm{.}666+\mathrm{.}021$ ln C $0\mathrm{.}036$ ln r$,$ where M denotes real money balances, C is an index of consumer confidence, and r is the interest rate paid on bank deposits. Based on this study, a $5$ percent increase in interest rates will cause the demand for money to:

Group of answer choices

drop by $0\mathrm{.}18$ percent.

drop by $1\mathrm{.}8$ percent.

increase by $0\mathrm{.}18$ percent.

increase by $1\mathrm{.}8$ percent.