Ask Question
11 October, 00:29

Interest is the rate earned from a

stock share

savings account

deposit

loan

+4
Answers (1)
  1. 11 October, 00:49
    0
    savings account

    deposit

    Explanation:

    Interest is the money earned when deposits or savings stay in a financial institution for some time. Financial institutions such as commercial banks pay interests to encourage the public to save and keep deposits in their bank accounts. Interest earned is determined by the amount of deposit or saving, the interest rate offered, and the duration of time the money stayed in the bank.

    A high-interest rate is attractive to the public as it earns more interest. Financial institutions compete for deposits and saving by offering better interest rates.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Interest is the rate earned from a stock share savings account deposit loan ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers