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The annual inflation rate over the coming year is expected to be 3.9%. Your bank is advertising an annual interest rate of 8.8% on a
The annual inflation rate over the coming year is expected to be 3.9%. Your bank is advertising an annual interest rate of 8.8% on a Certificate of Deposit (CD). If you buy the CD, how do you expect your purchasing power to change over the coming year? Express your answer as a percentage change in purchasing power
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Public Finance
Authors: Harvey S Rosen
6th Edition
0072374055, 978-0072374056
