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

match the term to the correct definition. fixed interest, compound interest, variable interest, simple interest. choose a certain interest rate is guaranteed for a period of time - not the duration of the loan. interest on your interest. 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.

match the term to the correct definition. fixed interest, compound interest, variable interest, simple interest. choose a certain interest rate is guaranteed for a period of time - not the duration of the loan. interest on your interest. 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.

Answer

Brief Explanations:

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

Answer:

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