Chloe has a 15,000 personal loan at a nominal interest rate of 8 ...

[Diane]

Chloe has a 15,000 personal loan at a nominal interest rate of 8 percent. If the inflation rate is 3 percent, what is the real interest rate paid on the loan?
 
  A) 2.67 percent B) 3 percent C) 8 percent D) 11 percent E) 5 percent

Question 2

According to the new growth theory, ________ is the factor that motivates technological change.
 
  A) diminishing returns
  B) random chance
  C) decisions about how much human capital to acquire
  D) profit
  E) the replication of activities

[morganmarie791]

Answer to Question 1

E

Answer to Question 2

D

[Diane]

Excellent

[carlsona147]

TYSM