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cat2211 cat2211
  • 17-02-2017
  • Social Studies
Answered

Suppose you offer your brother-in-law a loan of $8,000 and wish to have him pay you back in a year. The expected inflation rate is 2%. You do not need any return on the loan, but you want the money to keep its value after a year. How much money should your brother-in-law pay back after a year? A. $7,840 B. $8,160 C. $8,000 D. $8,320 E. $9,600

Verified Answer :

Plusheeen
Plusheeen Plusheeen
  • 17-02-2017

easy, B.
8,000 × 1.02 = 8,160

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