Two years ago, Sean deposited money into a savings account and received a toaster as a free gift, which required him to leave his money on deposit for a year. The value of the toaster reduced the amount of interest he earned for the first year.

Question

Quizplus · Accepted Answer

The value of the toaster is a promotional gift and does not directly affect the calculation of interest on the deposited money. Interest is calculated based on the account balance and the interest rate, not on the value of promotional items.

Two Years Ago, Sean Deposited Money into a Savings Account