Interest can be the money paid by a bank to a consumer as compensation for keeping his or her money in that bank.Interest can also be the money paid to a bank for the use of its money.

Name: Interest can be the money paid by a bank to a consumer as compensation for keeping his or her money in that bank.Interest can also be the money paid to a bank for the use of its money.
Brand: Quizplus
Rating: 4.8 (41 reviews)

Question

Quizplus · Accepted Answer

This statement is true. The two definitions given are accurate descriptions of interest in the context of banking.

Interest Can Be the Money Paid by a Bank to a Consumer