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Cambridge State Bank is paying 7% interest on its one-year certificate of deposit. Ifthe inflation rate is 4%, which of the following is the best approximation for the realrate of interest that Cambridge
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Cambridge State Bank is paying 7% interest on its one-year certificate of deposit. Ifthe inflation rate is 4%, which of the following is the best approximation for the realrate of interest that Cambridge State Bank is paying?a. 2.88 %b. 1 ¾ %c. 3 %d. 11 %

User MadsVJ
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1 Answer

1 vote

Answer: answer is C

Step-by-step explanation:

Interest rate - Inflation rate

= 7% - 4%

= 3%

User Amrita
by
6.7k points
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