Corey deposits $1,000 in a savings account that pays an annual interest rate of 5 percent. Over the course of a year, the inflation rate is 1.7 percent. At the end of the year, Corey has
A.
$17 more in his account, and his purchasing power has increased by $10.
B.
$30 more in his account, and his purchasing power has increased by $50.
C.
$40 more in his account, and his purchasing power has increased by $33.
D.
$50 more in his account, and his purchasing power has increased by $33.