how does interest work? select a response to continue. the bank pays me back for the fees i paid. the bank…
how does interest work? select a response to continue. the bank pays me back for the fees i paid. the bank pays me interest for borrowing my money. not sure.
Answer
Brief Explanations:
Interest is what a bank pays to a depositor for using their money. When you deposit money in a bank, the bank can use those funds for lending and other operations. In return, it pays you interest as compensation for borrowing your money. It is not related to paying back fees.
Answer:
The bank pays me interest for borrowing my money.