Business, 18.01.2020 02:31, kaylaunderwood470
Spencer took a 9 percent one-year fixed-rate loan to buy a new car. he expected to pay a real interest rate of 5 percent.
if at the end of the year spencer only paid a 3 percent real interest rate, which of the following is true?
a. the actual inflation rate was 6%
b. the nominal interest rate was 5%
c. the actual inflation rate was 4%
d. the nominal interest rate was 3%
Answers: 1
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Spencer took a 9 percent one-year fixed-rate loan to buy a new car. he expected to pay a real intere...
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