Description of this paper

Whitney puts money in a savings account

Description

solution


Question

2. Whitney puts money in a savings account at her bank earning 3.5 percent. One year later she takes her money out and notes that while her money was earning interest, prices rose 1.5 percent. What do the nominal interest rate and the real interest rate that Whitney can earn?

 

Paper#30594 | Written in 18-Jul-2015

Price : $22
SiteLock