MsTake Borrowed $1,000 from Her Bank for One Year at an Interest

question 137

Multiple Choice

Ms.Take borrowed $1,000 from her bank for one year at an interest rate of 10 percent.During that year,the price level went up by 15 percent.Which of the following statements is correct?

• A) Ms.Take will repay the bank fewer dollars than she initially borrowed.
• B) Ms.Take's repayment will give the bank less purchasing power than it originally loaned her.
• C) Ms.Take's repayment will give the bank greater purchasing power than it originally loaned her.
• D) Ms.Take's repayment will give the bank the same purchasing power that it originally loaned her.

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