Assume You Have a Credit Card Balance of $2,000 at 15

question 74

Multiple Choice

Assume you have a credit card balance of $2,000 at 15 percent and the inflation rate is 3 percent.What are the nominal and real interest rates?

• A) 15 percent nominal and 3 percent real
• B) 3 percent nominal and 12 percent real
• C) 15 percent nominal and 12 percent real
• D) 15 percent nominal and 18 percent real
• E) 12 percent nominal and 15 percent real

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