Question
Over the past year, you earned a nominal rate of interest of 12% on your money. The inflation rate was 3% over the same period.
Over the past year, you earned a nominal rate of interest of 12% on your money. The inflation rate was 3% over the same period. The exact actual growth rate of your purchasing power was
A. 15.5%.0
B. 10.0%.
C. 5.0%.
D. 8.7%.
E. 15.0%.
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Entrepreneurial Finance
Authors: Philip J. Adelman, Alan M. Marks
4th Edition
0132434792, 9780132434799
