Calculate the real interest rate you earned on the loan, Macroeconomics

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Calculate the real interest rate you earned on the loan

Problem

Suppose that the only good you purchase is hamburgers and that at the beginning of the year, the price of a hamburger is $2.00. Suppose you lend $1,000 for one year at an interest rate of 5.7 percent. At the end of the year, hamburgers cost $2.12. Calculate the real interest rate you earned on the loan.

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Macroeconomics: Calculate the real interest rate you earned on the loan

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Macroeconomics: Calculate the real interest rate you earned on the loan

Reference No:- TGS03242871

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