If the inflation rate is 5 percent and a $1000 bank deposit increases in one year to $1120, then the real interest rate for that deposit is ...
a. 12 percent
b. 12.5 percent
c. 7 percent
d. 7.2 percent
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Home » Business » If the inflation rate is 5 percent and a $1000 bank deposit increases in one year to $1120, then the real interest rate for that deposit is ... a. 12 percent b. 12.5 percent c. 7 percent d. 7.2 percent