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If Jackson is paid an interest rate of 10 percent on his savings, but the inflation rate has risen to 20 percent, the purchasing power of his savings is _____.

If Jackson is paid an interest rate of 10 percent on his savings, but the inflation rate has risen to 20 percent, the purchasing power of his savings is _____.
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If Jackson is paid an interest rate of 10 percent on his savings, but the inflation rate has risen to 20 percent, the purchasing power of his savings is _____.

asked
User Jankeesvw
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2 Answers

1 vote

Answer:

decreased by 10%

Step-by-step explanation:

answered
User Oleg Levin
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8.6k points
4 votes

decreased by 10%. just took the test

answered
User Koira
by
9.5k points
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