What is the impact on a checking account's purchasing power if it is earning 2% APY and inflation is 3% for the past year?
A) Savings outpaced inflation by 1%
B) Interest outpaced inflation by 1%
C) Inflation outpaced savings by 1%
D) The impact cannot be determined without knowing the balance
Correct Answer:
Verified
Q1: The major types of risk are:
A) Inflation
Q5: _ is a form of compensation for
Q6: The value of a dollar is _.
A)
Q6: _ is the risk you take when
Q7: A household with an annual take-home pay
Q7: _ is an outlay of money for
Q10: _ is the risk that the value
Q14: _ is money set aside for future
Q16: _ is the risk of not being
Q17: The first question to ask when deciding
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