Paolo lives in an economy where the only good for sale is a burger. In 2021, a burger costs $10, and in 2022, a burger c

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Paolo Lives In An Economy Where The Only Good For Sale Is A Burger In 2021 A Burger Costs 10 And In 2022 A Burger C 1 (52.82 KiB) Viewed 26 times

Paolo lives in an economy where the only good for sale is a burger. In 2021, a burger costs $10, and in 2022, a burger costs $12. Paolo had $500 in his savings in 2021 that grew to $650 in 2022. What is the real interest rate of Paolo's savings account? Hint: Inflation rate in decimal form = (Price in 2022 - Price in 2021)/(Price in 2021) 0% 8.3% 12.3% 30% D Question 20 5 pts Paolo lives in an economy where the only good for sale is a burger. In 2021, a burger costs $10, and in 2022, a burger costs $12. Paolo had $500 in his savings in 2021 that grew to $650 in 2022. What is the nominal interest rate of Paolo's savings account? Hint: Inflation rate in decimal form - (Price in 2022 - Price in 2021)/(Price in 2021) 0% 8.3% 12.3% 30%