Interest paid on deposits in financial institutions is based on how much money is on deposit and
A)how the balance is determined.
B)the interest rate applied.
C)the frequency of compounding.
D)all of these.

Question

Quizplus · Accepted Answer

The interest paid on deposits in financial institutions is based on how much money is on deposit, the interest rate applied, and the frequency of compounding. All three factors determine the amount of interest that will be earned on the deposit. Therefore, choice D is the correct answer.

Interest Paid on Deposits in Financial Institutions Is Based on How