What is the rate of inflation if an account has a nominal interest rate of 4.2% and a real interest rate of 2.8%
1 answer:
Answer:
Rate of inflation = 1.4%
Step-by-step explanation:
Given:
Nominal interest rate = 4.2%
Real interest rate = 2.8%
Find:
Rate of inflation
Computation:
Rate of inflation = Nominal interest rate - Real interest rate
Rate of inflation = 4.2% - 2.8%
Rate of inflation = 1.4%
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