The nominal interest rate tells you a. how fast the purchasing power of your bank account rises over time. b. the number of dollars in your bank account today. c. how fast the number of dollars in your bank account rises over time. d. the purchasing power of your bank account today.

C, how fast the number of dollars in your bank account rises over time

Explanation:

Nominal interest can be defined as the interest rate of a loan before taking inflation into account. It could also be said to be the interest rate of a loan without taking into account any fees or compound interests.

In relation to the above question, nominal interest shows how quickly there will be an increase in the amount of dollars in one's bank account. this is because it shows how much will accrue on whatever amount of dollars is initially put into the account.

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