Тестовое задание
Lydia wants to put her savings into an account to earn some interest. She analyzes the savings account market and nds that the best available interest rate is 5% per annum and takes this offer. Her sister, Elisa, has saved the same amount of money as Lydia, but she does not want to put her money into a bank account; instead, she goes for a subscription in government bonds, which pay 4.8% per annum. The marginal tax rate on interest is 10%. However, the fixed interest rate earned on government bonds is tax exempt. The expected rate of inflation for the next year is 2.5%. Which of the two sisters will be better off at the end of the year?
Lydia will pay a 10% tax, so the effective interest rate is 5% x (1 − 0.9) = 4.5%, which is lower than tax-exempt Elisa's bond return, and thus Elisa is better off. Inflation is irrelevant since it affects both sisters equally.