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Nikitich [7]
3 years ago
13

Jack retired five years ago and now lives on a fixed-income annuity and a small savings account that pays him 1% interest on the

balance. The current inflation rate is 1.7%. * 10 points A. Hurt B. Helped C. Unaffected
Business
1 answer:
Paraphin [41]3 years ago
6 0

Answer:

Hurt

Explanation:

Inflation is a persistent rise in general price level.

Nominal interest = inflation rate + real interest rate

If inflation is 1.7% and he is paid 1% interest. The inflation level is higher than interest paid. So, Jake is hurt because he is not compensated for the inflation level

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