If the Bank Offers You a Nominal Interest Rate of 9

question 90

Multiple Choice

If the bank offers you a nominal interest rate of 9 percent on a student loan, and if inflation is 6 percent, then what is the real interest rate?

• A) 15 percent.
• B) 9 percent.
• C) 6 percent.
• D) 3 percent.

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Definitions:

Manipulates

To control or influence something or someone cleverly, often in an unfair or deceitful manner.

Animals in Research

The use of non-human animal subjects in scientific experiments aimed at understanding human biology, diseases, and behavior.

Professional Standards

Guidelines and criteria set by professional bodies that dictate the ethical and professional behavior and responsibilities of its members.

Discomfort

A mild state of physical or mental pain, unease, or distress.