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What else can I help you with?
Does all money deposited in a bank earn interest?
No. Money deposited in checking/current accounts do not earn any interest.
How can interest earn you money and cost you money?
In savings, you earn itOn a bill or credit card, you pay it.Simple
A What is the money called that you earn on a savings account?
interest
Why should you deposit money in your bank?
You can earn interest.
Why do you earn more money using compound interest than you would using simple interest?
You earn more money using compound interest than simple interest because compound interest calculates interest on both the initial amount and the accumulated interest, leading to faster growth of your money over time.
How do you earn interest from money in the bank?
You earn an interest by depositing your money with the bank either in your savings account or through a fixed deposit. The bank grants loans to other customers and earns an interest out of it. Since it is your money they are using to give off loans, they share a portion of the profit they earn with you by means of an interest that gets paid out to the deposit customers.
How does bank earn money?
by making money on the interest that they charge on loans and credit products.
How much interest will you earn on 1million rand a month?
The answer depends on the rate of interest for sums of money of that magnitude.
Why does high interest rate discourage people from holding their money in cash?
They can earn interest on the cash if it is invested.
Why does a high interest rate discourage people from holding their money in cash?
They can earn interest on the cash if it is invested.
What relation between income and interest?
Income is money coming in; it could be wages or capital gains, or interest on money invested. Interest is a percentage of money owed added to your bill when borrowing money, or the amount that you earn on money invested.
How much interest will one million dollars earn you?
It depends on the interest rate and what sort of savings you put the money into.
