ale6315 ale6315

13-12-2018
Business

contestada

why can a bank afford to pay interest rate on a savings account

Respuesta :

olovve6966 olovve6966

13-12-2018

How can a bank afford to pay interest? Banks use the money deposited on savings accounts to lend to borrowers, who pay interest on their loans. ... The difference between the money earned as interest on loans, any operating expenses, and the money paid as interest to savings accounts is profit to the banks.

Answer Link

alamortdoll alamortdoll

09-10-2020

Answer:

Banks use the money from borrowers whom they charge at a high interest rate, and gives a lower rate to the people who have a savings account.

Answer Link

Otras preguntas

I learned that before application of shampoo it is important to

Which concern did Great Britain use to justify its increased taxation of the American colonies before the American Revolutionary War? * A. The military defense

Please look at the image.

Mrs. Clark purchased a box of pencils. The purchase price was $1.80 for 12 pencils. How much did she pay for each pencil?

Is there work being done when kicking a soccer ball?

Which of the following inverse operations do you perform on the multiplication equation 3x=−27 to isolate the variable? A.Divide by 3 on both sides of the equa

Select the correct answer, Which unit of program code takes inputs, performs operations on these inputs, and returns the outputs? OA statement ОВ. variable OC.

Two groups of hikers take two different routes from Camp A to Camp B. The first group leaves Camp A at 9:00 AM and takes a route that is 30 miles longer than th

Read the excerpt from "Daughter of Invention". "iYa, ya!" She waved them out of her room at last. "There is no use trying to drink spilt milk, that's for sure."

Sharon bought 6 new folders for $0.75 each and 15 pens that were priced at 5 for $1.45. What is the total amount she spent?