match the term to the correct definition. fixed interest compound interest variable interest simple interest…

match the term to the correct definition. fixed interest compound interest variable interest simple interest choose choose choose a certain interest rate is guaranteed for a period of time - not the duration of the loan. during the time of the loan, the interest rate will not change until the money is repaid. the bank is paying interest only on the money the customer has actually put in the bank. interest on your interest

match the term to the correct definition. fixed interest compound interest variable interest simple interest choose choose choose a certain interest rate is guaranteed for a period of time - not the duration of the loan. during the time of the loan, the interest rate will not change until the money is repaid. the bank is paying interest only on the money the customer has actually put in the bank. interest on your interest

Answer

Brief Explanations:

Fixed interest is when a certain interest rate is guaranteed for a period of time - not the duration of the loan. Variable interest means during the time of the loan, the interest rate will not change until the money is repaid. Simple interest is the bank paying interest only on the money the customer has actually put in the bank. Compound interest is interest on your interest.

Answer:

Fixed Interest: A certain interest rate is guaranteed for a period of time - not the duration of the loan. Variable Interest: During the time of the loan, the interest rate will not change until the money is repaid. Simple Interest: The bank is paying interest only on the money the customer has actually put in the bank. Compound Interest: Interest on your interest.