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Home Q & A Board Other Fields Homework Help Business Economics
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Loraine Loraine
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8 years ago
Chloe has a $15,000 personal loan at a nominal interest rate of 8 percent. If the inflation rate is 3 percent, what is the real interest rate paid on the loan?
A) 8 percent
B) 5 percent
C) 11 percent
D) 3 percent
E) 2.67 percent
Textbook 
Essential Foundations of Economics

Essential Foundations of Economics


Edition: 7th
Authors:
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Start by doing what's necessary; then do what's possible; and suddenly you are doing the impossible.
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Chimelo46Chimelo46
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8 years ago
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8 years ago
It was nothing, thanks for updating us.
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