Answer to Question #66548 in Macroeconomics for oreoluwa o
Your bank paid 3% interest on $1,000 deposited in your savings account. The inflation rate during the year was 4%.
A.) Calculate the real interest rate that you earned on the deposit. (Enter a numeric value for your answer including the correct sign.)
B.) Based on your calculations above, you ______ in this case.
neither gained nor lost
A) - bank paid - inflation rate The real interest rate is -14,28%
B) Based on your calculations above, you lost in this case.