A Year Ago, You Invested $10,000 in a Savings Account

question 61

Multiple Choice

A year ago, you invested $10,000 in a savings account that pays an annual interest rate of 5%.What is your approximate annual real rate of return if the rate of inflation was 3.5% over the year

• A)1.5%
• B)10%
• C)7%
• D)3%
• E)None of the options

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Definitions:

Detractors

Individuals or entities that actively express criticism or disapproval, often working to decrease support or enthusiasm for something.

Labor Market Discrimination

Labor market discrimination occurs when individuals receive different treatment in employment opportunities, such as hiring, promotion, or wages, based on characteristics unrelated to their job performance, like race, gender, or age.

Temporary Assistance

Short-term aid or support provided to individuals or families in need, often from governments or charitable organizations.

Needy Families

Refers to low-income families that require financial assistance or support services to meet basic living needs.