# Answer to Question #66548 in Macroeconomics for oreoluwa o

Question #66548

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.)

66%

B.) Based on your calculations above, you ______ in this case.

A.

gained

B.

lost

C.

neither gained nor lost

A.) Calculate the real interest rate that you earned on the deposit. (Enter a numeric value for your answer including the correct sign.)

66%

B.) Based on your calculations above, you ______ in this case.

A.

gained

B.

lost

C.

neither gained nor lost

Expert's answer

A)

- bank paid

- inflation rate

The real interest rate is -14,28%

B) Based on your calculations above, you lost in this case.

- bank paid

- inflation rate

The real interest rate is -14,28%

B) Based on your calculations above, you lost in this case.

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