In Late 2001 the Inflation Rate Was About 2

question 7

Multiple Choice

In late 2001 the inflation rate was about 2.9%. If you invested in a savings account with an annual interest rate of 9.2%, what was the real growth rate of this investment?

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

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Definitions:

Psychometrics

The study dedicated to assessing cognitive functions and abilities.

Empiricism

The philosophical stance that knowledge comes primarily from sensory experience and observation.

Multifactorial Causation

The concept that complex outcomes, such as diseases or behaviors, result from interactions among multiple genetic and environmental factors.

Subjectivity

The quality of being based on or influenced by personal feelings, tastes, or opinions rather than external facts.