Law Middle School

Which of the following best describes the concept of interest?

Interest is the amount of money each bank must pay the Federal Reserve.
Interest is what consumers pay the bank to safely keep their money.
Interest is money paid by consumers to businesses for goods and services.
Interest is the price consumers pay for borrowing money from a bank.

Answers

Answer 1

Answer:

Interest is the price consumers pay for borrowing money from a bank.

Answer 2
Yes the last one If you borrow money you pay for it in interest.

Related Questions

Is the following statement true or false?

The colonists' primary concern was that they were paying too much in taxes to the British government.

Answers

Answer:

true.

Explanation:

The answer is true.…

i just asked my best friend if she talk ab me behind my back bc i kinda have trust issues and i dont get what she means by this.... do yall have any idea?

Answers

She doesn’t have anyone to talk behind ur back with so she’s implying that if she did she would

Hope it helps
Don’t overthink it
she’s basically implying that if she had people to talk to abt you, she would, leave her, you deserve better <3

Which of the following was signed by the colonists to separate themselves politically from Britain?

Answers

Answer:

By issuing the Declaration of Independence, adopted by the Continental Congress on July 4, 1776, the 13 American colonies severed their political connections to Great Britain.

Explanation:

The Declaration of Independence, 1776

Which of the following correctly explains where banks get the money to lend consumers?

From people who open accounts
From profits made on interest charges
From the Federal Reserve
From other banks in the same district

Answers

from the federal reserve i think
People who open accounts
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