Andy offered Jenny, a loan of $1,000. Jenny paid Andy back $1,000 a year later. The inflation rate during that year was 1.5%. Did Andy lose any money?

A. No, he didn't because he got back what he offered a year ago B. Yes, he lost $1.5 C. Yes, he lost $15 D. Yes, he lost $20 E. Yes, he lost $150

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3 October, 18:44

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Hebert · Answer 1

C, he lost $15, with inflation, the worth of that money went down, and 1000 * 0.015 = $15

Andy offered Jenny, a loan of $1,000. Jenny paid Andy back $1,000 a year later. The inflation rate during that year was 1.5%. Did Andy lose any money?A. No, he didn't because he got back what he offered a year ago B. Yes, he lost $1.5 C. Yes, he lost $15 D. Yes, he lost $20 E. Yes, he lost $150