In Early 2002, the Inflation Rate Was About 1

question 11

Multiple Choice

In early 2002, the inflation rate was about 1.4%. If you invested in a savings account with an annual interest rate of 4.8%, what was the real growth rate of this investment?

• A) 1.66%
• B) 3.35%
• C) 4.27%
• D) 6.12%

---

Definitions:

Reforms Implemented

Describes the actions taken to make changes or improvements within a system, organization, or policy to rectify issues or enhance functionality.

Kumbi Saleh

The capital city of the ancient Ghana Empire, serving as a thriving center for trade and learning in West Africa from the 9th to the 11th century.

West African Empire

Refers to several historical empires in West Africa, such as the Ghana, Mali, and Songhai empires, renowned for their wealth and contributions to trade and culture.

Capital

Wealth in the form of money or other assets owned by a person or organization or available for purposes such as starting a company or investing.