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True or false if the rate of inflation is higher than your interest rate on your savings account you are gaining buying power

True or false if the rate of inflation is higher than your interest rate on your savings account you are gaining buying power
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2 votes
True or false if the rate of inflation is higher than your interest rate on your savings account you are gaining buying power

asked
User Jonathan Giddy
by
6.9k points

2 Answers

4 votes

The interest rate is what gets added to your savings.

Answer:

True

True or false if the rate of inflation is higher than your interest rate on your savings-example-1
answered
User Demula
by
8.8k points
3 votes

Answer:

False

Step-by-step explanation:

answered
User Malcolm McLean
by
8.3k points
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