How much money does jacob return to josh

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Reference no: EM133930959

Assignment:

In Nov 2020, Jacob borrowed $1000 from Josh. Josh would like to have real return of 2% in Nov, 2021. They expected that the inflation would be 3%

1. How much money does Jacob return to Josh?

2. Now is Nov 2021. They found that the inflation is 4%.

1. Does Josh make money? Why?

2. Is Josh better off? Why?

3. Is Josh happy? Why?

Reference no: EM133930959

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