what is interest? a reward for avoiding penalties on a checking account. bonuses given for using a debit…
what is interest? a reward for avoiding penalties on a checking account. bonuses given for using a debit card. a reward for maintaining a certain available balance in a checking account. the money a bank pays you for allowing them to use your money.
Answer
Brief Explanations:
Interest is the compensation paid by a borrower (such as a bank) to a lender (a depositor) for the use of the lender's funds. It is the money a bank pays to a customer for allowing the bank to use the customer's deposited money.
Answer:
D. The money a bank pays you for allowing them to use your money.