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John borrowed $3,000 from his bank for one year at 8%. If the rate of inflation turned out to be 3%, what can you say ab
Posted: Tue Nov 16, 2021 8:20 am
by answerhappygod
- John Borrowed 3 000 From His Bank For One Year At 8 If The Rate Of Inflation Turned Out To Be 3 What Can You Say Ab 1 (15.06 KiB) Viewed 121 times
John borrowed $3,000 from his bank for one year at 8%. If the rate of inflation turned out to be 3%, what can you say about the bank's purchasing power from this operation, when the loan is paid back? OA. The bank's real purchasing power increased by 4.85% OB. The bank's real purchasing power increased by 11.24% OC. The bank's real purchasing power decreased by 4.63% OD. The bank's real purchasing power increased by 5.00%