The Iron Bank wants to make sure that the purchasing power of the interest that they get paid on loans is at least \[11\%\]. Real GDP is increasing at \[5\%\] per year, and the expected rate of inflation is \[7\%\] per year. If all banks in Westeros want to earn the same real return as the Iron Bank, what is the nominal interest rate (n.i.r) in Westeros? Choose 1 answer: Choose 1 answer: (Choice A) \[13\%\] A \[13\%\] (Choice B) \[-1\%\] B \[-1\%\] (Choice C) \[7\%\] C \[7\%\] (Choice D) \[18\%\] D \[18\%\] (Choice E) \[11\%\] E \[11\%\]Which of the following best describes the difference between nominal interest rates and real interest rates? Choose 1 answer: Choose 1 answer: (Choice A) nominal interest rates are what banks charge; real interest is what borrowers pay A nominal interest rates are what banks charge; real interest is what borrowers pay (Choice B) nominal interest is what you earn from a savings account; real interest is what the bank pays savings accounts B nominal interest is what you earn from a savings account; real interest is what the bank pays savings accounts (Choice C) nominal interest is paid on bonds; real interest is