If a student borrowed $5, 000 at a fixed rate of 8.9 percent to pay for this year's college expenses and the annual inflation rate turns out to be 11 percent, then the student's purchasing power for the year has increased.

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The Answer of If a student borrowed $5, 000 at a fixed rate of 8.9 percent to pay for this year's college expenses and the annual inflation rate turns out to be 11 percent, then the student's purchasing power for the year has increased.

If a Student Borrowed $5, 000 at a Fixed Rate