Suppose Compu-Global-Hyper-Mega-Net borrows $100,000 from Mel's Savings and Loan for one year at a 10% interest rate. At the end of the year; the owner, Mr. Simpson, has to repay $110,000. Of the course of that same year, the average level of prices increases by 10%. What is the real interest rate of the loan?
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Home » Business » Suppose Compu-Global-Hyper-Mega-Net borrows $100,000 from Mel's Savings and Loan for one year at a 10% interest rate. At the end of the year; the owner, Mr. Simpson, has to repay $110,000.