5
477,567
0.9938% per month, when compounded is equivalent to 12.6% annually.
rose by 1 percent
The interest is 5980*1536/100*6 = 5597.28 And the total amount is 11577.28
Interest is 99.9
The dollar in your pocket is worth .99 of a dollar. also nominal interest=real interest+inflation so nominal interest goes up by 1%
The 12 percent nominal interest means that your money will increase in value by 12% in a year's time in NOMINAL terms.However, the inflation rate of 13 percent says that the cost of goods will increase faster than the value of your deposit.Hence the REAL effect is that the value of your money will fall by 1 percent.
Ok, this is my own question. This is what I came up with. can anyone confirm or correct?Maturity r = RR + IP1-YEAR 2.25% = 1.5% + X2.25% - 1.5% = .75%
3 percent
The answers are 7%, 7.33%.
If Jackson is earning an interest rate of 10 percent on his savings while the inflation rate is at 20 percent, his purchasing power is decreasing. This is because the inflation rate exceeds the interest rate, resulting in a net loss of value in real terms. Essentially, he is losing 10 percent of the value of his savings each year due to inflation outpacing his interest earnings. Therefore, his savings are effectively becoming less valuable over time.
477,567
0.9938% per month, when compounded is equivalent to 12.6% annually.
rose by 1 percent
rose by 1 percent
rose by 1 percent
the nominal income rose by 3 percent