The CPI Index for September 1984 is 100. The same CPI index for Septembe 1. What was the inflation rate during these 38 years? 2. What is the annualized rate of inflation for this period? 1. About 196.81% during 38 years. 2. About 2.90% per year 1 About 196 81% during 28

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Interest Rate

When you deposit your money with the bank, the deposit earns you some extra money at the end of the specific period – something more than what you deposited. That amount of money that the bank pays you for keeping the money with the bank is the “interest” and the percentage at which the bank pays you for your amount is called the “interest rate”.