Simple interest is earned on a bank balance. True or False

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asked Dec 4, 2018 12.5k views

2 Answers

Alex Quintero · Answer 1 · 2018-12-11T12:15:13+0000

true.........Savings accounts earn interest on the amount of money deposited into the account. The formula to determine simple interest in a savings account is the deposit amount times the annual interest rate times the amount of time the money is deposited

Simple interest is earned on a bank balance. True or False

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