If You Put $100 in the Bank for One Year

question 80

True/False

If you put $100 in the bank for one year at an annual nominal interest rate of 5 percent and yearly inflation is running at 7 percent, you will be able to buy $105 worth of goods when you pull it out of your account.

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Advanced Education

Education beyond the basic level, often referring to college, university studies, or specialized professional training.

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