Over the past year you earned a nominal rate of interest of 12.5 percent on your money.The inflation rate was 2.6 percent over the same period.The exact actual growth rate of your purchasing power was
A)9.15%.
B)9.90%.
C)9.65%.
D)10.52%.
E)none of the above.

Question

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The Answer of Over the past year you earned a nominal rate of interest of 12.5 percent on your money.The inflation rate was 2.6 percent over the same period.The exact actual growth rate of your purchasing power was
A)9.15%.
B)9.90%.
C)9.65%.
D)10.52%.
E)none of the above.

Over the Past Year You Earned a Nominal Rate of Interest