Nancy took out a loan of50,000 with nominal interest of $5,000. During the period of the loan, the country encountered an unforeseen inflation rate of 11%. Did Nancy and the lender lose any money?
A. Nancy lost money but the lender did not lose money
B. The lender lost money, but Nancy did not lose money
C. Both Nancy and the lender lost money
D. Both Nancy and the lender did not lose money
E. None of the above
