zero Wrong. 8%
Interest rate
The interest rate at which they lend out money changes, which changes your interest rate. Banks are a buisness and if their interest rates are lower then your interest rates, they make no money on it. The interest rate taht banks pay is changed because the rate that banks pay to the govenrment changes. Whnever the federal reserve rate changes,your interest rates can change.
A Bank interest rate may refer to two things with respect to banking functions. a. Deposit Interest Rate - This is the rate the banks offer to their customers for depositing money with the bank b. Loan Interest Rate - This is the rate of interest banks charge the customers who wish to borrow money from them through loans. Both rates will differ from bank to bank
the interest rate might be more causeing you to waste your money
because the bank lends money out at a higher interest rate
Whats the rate? I = prt; I = interest, p = principal or money(100,000 pounds), r = rate (Example: 5% interest?), t = time in years.
The interest on 1800 dollars depends on the rate being used.
If you have an annual interest rate then is 10.405%
Interest rate
Interest rate
If your interest is high then the money remain with you will be low to support your need. On the contrary you will be left with more money if the interest rate is low.
the cost of borrowing money
the cost of borrowing money
The interest rate at which they lend out money changes, which changes your interest rate. Banks are a buisness and if their interest rates are lower then your interest rates, they make no money on it. The interest rate taht banks pay is changed because the rate that banks pay to the govenrment changes. Whnever the federal reserve rate changes,your interest rates can change.
A Bank interest rate may refer to two things with respect to banking functions. a. Deposit Interest Rate - This is the rate the banks offer to their customers for depositing money with the bank b. Loan Interest Rate - This is the rate of interest banks charge the customers who wish to borrow money from them through loans. Both rates will differ from bank to bank
Asset demand for money is dependent on interest rates. The money slope goes down if interest rate goes down. In contrast, money slope goes up if interest rate goes up.
because the bank lends money out at a higher interest rate