Noah puts money in the bank and earns a 7 percent nominal interest rate. What happens if the ination rate is 3 percent? 3) Noah will have 3 percent more money, which will purchase 5 percent more goods. b) Noah will have 3 percent more money, which will purchase 10 percent more goods. c) Noah will have 7 percent more money, which will purchase 4 percent more goods. d) Noah will have 7 percent more money, which will purchase 10 percent more goods