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Business, 13.03.2021 04:10 Halessoftball

You open a savings account with a 0.5% per year nominal interest rate, and the economy experiences 3% per year inflation. a. What is the nominal and real annual interest rate on the account? The nominal interest rate is %, and the real interest rate is %. b. What will happen to the purchasing power of the money you place in the account over time? The purchasing power of money in the account will

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You open a savings account with a 0.5% per year nominal interest rate, and the economy experiences 3...
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