5' Home X ' 3-25imule X l i ModuleTh X ' ModuleTl' X 5'5 MindTap- X n Course He X l u Course He X l u Course He X l u ECO_202, X l u Course He X l + v 6 C i ng.cengage.com/staticb/ui/evo/index.html?deployment|d25981412353502464190243042516&e|SBN:9780357'|33576&id:i736030637&snapshot|d:33722... m :5; El @- Makenzie V 5'. CENGAGE I MINDTAP Q Search this course 0 My Heme Module Three Quiz 0 X Courses Attempts l I Keep the Highest / 3 Catalog and Study Tools 8 . Interest, inflation, and purchasing power Rental OWNS Suppose Diamond is a sports fan and buys only football tickets. Diamond deposits $2,000 into a savings account that pays an annual nominal interest rate of 5%. Assume this interest rate is xed, and so it will not change over time. On the day she makes her deposit, suppose that a football ticket has College SuccessTips a price \"$10.00. Career Success Tips _ g _ _ _ _ Initially, Diamond's $2,000 deposit has a purchasing power of C] football tickets. Help Give Feedback For each of the annual ination rates given in the following table, rst determine the new price of a football ticket, assuming it rises at the rate of inflation. Then enter the corresponding purchasing power of Diamond's deosit after one year in the first row of the table for each inflation rate. Final/y, enter the value for the real interest rate at each of the given in ' tes. Hint: Round your answers in the first row down to the nearest football you would round the purchasing power down to 20 football tickets und 5% 8%: v v Number of Tickets Diamond can Purchase after One Year Real Interest Rate When the rate of inflation is less than the interest rate on Diamond's deposit, the purchasing power of her deposit V over the Continue without saving course of the year