Imagine that you borrow

$5,000

for one year and at the end of the year you repay the

$5,000

plus

$600

of interest. If the inflation rate was

4%

, what was the real interest rate you paid?\ 8 percent\ 6 percent\ 16 percent\ 12 percent

Imagine that you borrow $5,000 for one year and at the end of the year you repay the $5,000 plus $600 of interest. If the inflation rate was 4%, what was the real interest rate you paid? 8 percent 6 percent 16 percent 12 percent