Tristan owns a local flower shop. His customers are already finding him online, but he's curious whether Google My Business can
1 answer:
You might be interested in
Answer:
The correct answer is option c.
Explanation:
The nominal interest rate was 5 percent.
The CPI was 150.3 at the end of the year, and the CPI was 144.2 at the beginning of the year.
The 5% nominal interest rate means that the dollar value of savings increased at 5%.
Inflation rate
=
= 0.0423 or 4.2%
The real interest rate
= Nominal interest rate - rate of inflation
= 5 - 4.2
= 0.8%
The real interest rate of 0.8% indicates that the purchasing power of savings increased at 0.8%.