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What else can I help you with?
Why should you deposit money in your bank?
You can earn interest.
Why do you earn more money using compound interest than you would using simple interest?
You earn more money using compound interest than simple interest because compound interest calculates interest on both the initial amount and the accumulated interest, leading to faster growth of your money over time.
How does bank earn money?
by making money on the interest that they charge on loans and credit products.
What is the cost of money?
Interest rate
Why does a high interest rate discourage people from holding their money in cash?
They can earn interest on the cash if it is invested.
Does all money deposited in a bank earn interest?
No. Money deposited in checking/current accounts do not earn any interest.
A What is the money called that you earn on a savings account?
interest
Why should you deposit money in your bank?
You can earn interest.
Why do you earn more money using compound interest than you would using simple interest?
You earn more money using compound interest than simple interest because compound interest calculates interest on both the initial amount and the accumulated interest, leading to faster growth of your money over time.
How do you earn interest from money in the bank?
You earn an interest by depositing your money with the bank either in your savings account or through a fixed deposit. The bank grants loans to other customers and earns an interest out of it. Since it is your money they are using to give off loans, they share a portion of the profit they earn with you by means of an interest that gets paid out to the deposit customers.
How does bank earn money?
by making money on the interest that they charge on loans and credit products.
What is the cost of money?
Interest rate
What is the money cost?
Interest rate
The cost of borrowing money is called the?
The cost of borrowing money is called interest.
Why does high interest rate discourage people from holding their money in cash?
They can earn interest on the cash if it is invested.
Why does a high interest rate discourage people from holding their money in cash?
They can earn interest on the cash if it is invested.
How much interest will you earn on 1million rand a month?
The answer depends on the rate of interest for sums of money of that magnitude.
