A Municipality Issued Bonds to Finance Its Infrastructure Projects

question 43

Multiple Choice

A municipality issued bonds to finance its infrastructure projects. The bonds are supposed to pay 6.5% per year. A city engineer calculated the real rate of interest to be 3.5% next year. What inflation rate did the engineer assume?

• A)2.7%
• B)2.9%
• C)4.8%
• D)9.2%
• E)22.2%

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