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attached .. In the country of Hyrkania, the CPI in 2018 was 140 and the CPI in 2019 was 154. Jake, a resident of Hyrkania,

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In the country of Hyrkania, the CPI in 2018 was 140 and the CPI in 2019 was 154. Jake, a resident of Hyrkania, borrowed money in 2018 and repaid the loan in 2019. If the nominal interest rate on the loan was 12 percent, what was the real interest rate? 8% 12% 2% 16%

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