6. The following table shows the CPI for each year from 2009 to 2021 Year CPI 2009 172 2010 177 2011 189 2012 200 2013 212 2014 220 2015 220 2016 230 2017 250 2018 255 2019 270 2020 280 2021 300 (a) In 2010, I deposited $380 in by interest bearing saving account. In 2021, in my account I had $412 expressed in 2013 prices. What is the average annual nominal interest rate I earned on my deposit from 2010-2021?   (b) In another account, I deposited $1200 in an interest bearing saving account in 2008. I held the money in the account from 2008-2014. The annual real interest rate I earned on the account was r = 0. How much did I have in my account in 2014 (the nominal value)

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6. The following table shows the CPI for each year from 2009 to 2021

Year CPI

2009 172

2010 177

2011 189

2012 200

2013 212

2014 220

2015 220

2016 230

2017 250

2018 255

2019 270

2020 280

2021 300

(a) In 2010, I deposited $380 in by interest bearing saving account. In 2021, in my account I had $412 expressed in 2013 prices. What is the average annual nominal interest rate I earned on my deposit from 2010-2021?

 

(b) In another account, I deposited $1200 in an interest bearing saving account in 2008. I held the money in the account from 2008-2014. The annual real interest rate I earned on the account was r = 0. How much did I have in my account in 2014 (the nominal value)

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