Since 2010, the interest rate on passbook accounts and certificates of deposit has
A) been less than the average rate of inflation.
B) closely tracked the average rate of inflation.
C) exceeded the average rate of inflation by 1.5%.
D) fluctuated widely.

Question

Quizplus · Accepted Answer

Since 2010, the interest rate on savings products like passbook accounts and certificates of deposit has generally been lower than the average rate of inflation, meaning the real value of the money saved in these accounts has decreased over time.

Since 2010, the Interest Rate on Passbook Accounts and Certificates