Neco 2024 Economics Question 29
Practice objective / multiple choice question 29 from the 2024 Neco Economics examination.
The Consumer Price Index (CPI) was 210 at the beginning of the year and 224 at the end of the year. Two bank accounts are available: Account A offers a nominal interest rate of 12% per annum and Account B offers 9% per annum. Using the Fisher approximation (real ≈ nominal - inflation), calculate the difference in real interest rates between the two accounts, expressed in percentage points, to one decimal place.
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About This Question
This is Neco 2024 Economics Question 29. It is one of the objective questions from the 2024 Neco Economics examination.
Difficulty level: Medium .
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