Meredith has purchased a guaranteed income certificate (GIC) in Canada. This financial instrument pays her 1% interest per year. However, inflation during the same year is 2%. What was Meredith's real interest rate on her GIC?
A) 3%
B) -1%
C) 1%
D) 2%
Correct Answer:
Verified
Q65: Menu costs are the:
A)costs of producing restaurant
Q66: The real interest rate is the:
A)stated interest
Q67: The nominal interest rate is the:
A)stated interest
Q68: The real interest rate is the:
A)percentage of
Q69: Meredith has purchased a guaranteed income certificate
Q71: You open a savings account that pays
Q72: You purchase a certificate of deposit that
Q73: You purchase a certificate of deposit that
Q74: You open a savings account that pays
Q75: You purchase a certificate of deposit that
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