Business

29 April, 22:41

During a certain year, the consumer price index increased from 120 to 132 and the purchasing power of a persons bank account increased by 4 percent. for that year,

a. the nominal interest rate was 14 percent.

b. the inflation rate was 9 percent.

c. the nominal interest rate was 6 percent.

d. the inflation rate was 12 percent

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