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Economics for Today 9th Edition by Irvin Tucker
Edition 9ISBN: 978-1305507111Economics for Today 9th Edition by Irvin Tucker
Edition 9ISBN: 978-1305507111 Exercise 16
If the bank offers you a nominal interest rate of 9 percent on a student loan, and if inflation is 6 percent, then what is the real interest rate?
A) 15 percent.
B) 9 percent.
C) 6 percent.
D) 3 percent.
A) 15 percent.
B) 9 percent.
C) 6 percent.
D) 3 percent.
Explanation
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The formula for calculating real interes...
Economics for Today 9th Edition by Irvin Tucker
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