If the rate of inflation is higher than your interest rate on your savings account are you gaining buying power
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Ответ:
Interest, on the other hand, is the increase of your money when you invest it in a bank or stocks. This is also related to inflation rate. However, interest is just the increase the bank has to offer for you.
Thus, in order to gain buying power, your interest rate should be higher than the inflation rate so that their would be no deficit. If inflation rate is higher, then that means that your $5,000 today is even worth less than $5,000 after 10 years.
Ответ:
down below
Explanation:
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