A country’s central bank increased the rate of interest from $1\%$ to $4\%$ per year. In what way would this have influenced the amount saved and the cost of borrowing for individuals?
- Aamount saved: decreased; cost of borrowing: decreased
- Bamount saved: decreased; cost of borrowing: increased
- Camount saved: increased; cost of borrowing: decreased
- Damount saved: increased; cost of borrowing: increased