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

match the term to the correct definition. simple interest variable interest compound interest fixed interest 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 choose a certain interest rate is guarc choose a certain interest rate is guari

match the term to the correct definition. simple interest variable interest compound interest fixed interest 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 choose a certain interest rate is guarc choose a certain interest rate is guari

Answer

Brief Explanations:

Simple interest is calculated only on the principal amount. Fixed - interest rate is guaranteed for a period of time during a loan. Compound interest means interest is paid on interest as well as principal. Variable interest rate can change over time.

Answer:

Simple Interest: A certain interest rate is guaranteed on the money the customer has actually put in the bank. Fixed Interest: 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. Compound Interest: Interest ON your interest Variable Interest: No match provided in the given definitions.