Answered

Discover the answers you need at Westonci.ca, where experts provide clear and concise information on various topics. Explore our Q&A platform to find reliable answers from a wide range of experts in different fields. Join our platform to connect with experts ready to provide precise answers to your questions in different areas.

Which interest rate will be higher: the interest rate the bank pays you on your savings account or the interest rate the bank charges you for a loan? Why?

Sagot :

Answer:

The interest rate the bank charges you for your loan.

Explanation:

The bank is trying to make money, so the bank is going to PAY you a lower interest rate on your savings account, but CHARGE you a higher interest rate on your loan.  Then, the bank makes more money out of the deal.

We hope you found what you were looking for. Feel free to revisit us for more answers and updated information. Your visit means a lot to us. Don't hesitate to return for more reliable answers to any questions you may have. Thank you for choosing Westonci.ca as your information source. We look forward to your next visit.