Suppose your zimbabwean bank account pays interest monthly, Ask an Expert

Economics

Suppose your Zimbabwean bank account pays interest monthly with the interest rate quoted as an effective annual rate (EAR) of 50%. (a) What percent interest will you earn each month? (b) Suppose the weekly inflation rate in Zimbabwe is 1%. What is the yearly inflation rate? (c) What is the real interest rate on your Zimbabwean bank account? Use the exact formula and not the approximation.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91522720

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