The CPI was 220 in 2012 and 231 in 2013.Phil borrowed money in 2012 and repaid the loan in 2013.If the nominal interest rate on the loan was 10 percent,then the real interest rate was
A) -5 percent.
B) -1 percent.
C) 5 percent.
D) 3.2 percent.
Correct Answer:
Verified
Q86: During a certain year,the nominal interest rate
Q87: If the nominal interest rate is 6
Q88: Suppose the consumer price index was 184
Q89: If the nominal interest rate is 5
Q90: During a certain year,the nominal interest rate
Q92: Suppose that over the past year,the real
Q94: If the nominal interest rate is 6
Q95: If the nominal interest rate is 8
Q96: If the nominal interest rate is 4
Q210: If the nominal interest rate is 5
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents