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Questions and Answers
What does the balance in your bank account indicate?
What does the balance in your bank account indicate?
- The amount of money the bank owes you (correct)
- The amount of money you have in the bank
- The amount of money the bank has loaned you
- The amount of money you owe the bank
What does a bank deposit actually represent?
What does a bank deposit actually represent?
- The interest the bank owes you
- A loan you have taken from the bank
- A loan you have given to the bank (correct)
- The money you have stored in the bank
Why does the bank pay interest on deposits?
Why does the bank pay interest on deposits?
- Because it is a form of tax
- Because the bank is lending you money
- Because it is a service charge
- Because the bank is borrowing your money (correct)
