A Russian bank pays 15 percent interest on a Tony Pizur @Regis Math

Question 60 / 60: A Russian bank pays 15 percent interest on a one-year CD. A one-year CD pays only 0.5 percent in Switzerland. What can we say about the relative inflation rates?

A The rate in Russia must be 14.5 percent higher than in Switzerland.

B The rate in Russia must be 30 times higher than in Switzerland.

C The rate in Russia must be higher but we cannot say by how much.

D There is insufficient information to draw a conclusion because we don't know the default risk.

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Math for Economists ECON200

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Prof.Tony PizurProfessor

Regis University

USA

Attribution: Tony Pizur. Math for Economists (The Saylor Academy 2014), http://www.saylor.org/courses/econ200/

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