Sally worked hard all year and put her savings into a mutual fund that paid a nominal interest rate of 6 percent a year. During the year, the CPI increased from 175 to 182 . What was the real interest rate that Sally earned? Sally earned a real interest rate of enter your response here percent per year. >>> Answer to 1 decimal place. >>> If your answer is negative, include a minus sign. If your answer is positive, do not include a plus sign.
Sally worked hard all year and put her savings into a mutual fund that paid a nominal interest rate of 6 percent a year. During the year, the CPI increased from 175 to 182 . What was the real interest rate that Sally earned? Sally earned a real interest rate of enter your response here percent per year. >>> Answer to 1 decimal place. >>> If your answer is negative, include a minus sign. If your answer is positive, do not include a plus sign.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
Sally worked hard all year and put her savings into a mutual fund that paid a nominal interest rate of
6
percent a year. During the year, the CPI increased from
175
to
182
.
What was the real interest rate that Sally earned?
Sally earned a real interest rate of
enter your response here
percent per year.
>>>
Answer to 1 decimal place.
>>>
If your answer is negative, include a minus sign. If your answer is positive, do not include a plus sign.
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