bethrathgeb8900 bethrathgeb8900

16-03-2020
Business

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Suppose you were borrowing money to buy a car. Consider the following situations. Situation 1: Suppose the interest rate on your car loan is 18.0018.00 percent and the inflation rate is 17.0017.00 percent. Calculate the real interest rate. nothing%. (Enter your response as a percentage rounded to two decimal places.)

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segehood segehood

19-03-2020

Answer:

1.00%

Explanation:

Given that

Interest rate = 18.00%

Inflation rate = 17.00%

Recall that

Real interest rate = interest rate (nominal) - inflation rate

Therefore,

Real interest rate = 18.00 - 17.00

= 1.00%

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