The Nominal Interest Rate for a Consumer Loan Lasting from 2007

question 77

Multiple Choice

The nominal interest rate for a consumer loan lasting from 2007 to 2008 is 8.5 percent and the real interest rate is 4.5 percent.If the consumer price index was 200 in 2007,what would the consumer price index value be in 2008?

• A)192
• B)208
• C)209
• D)217

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