ECONOMICS
SAVING AND INVESTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Either A or B
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None of the above
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Detailed explanation-1: -Answer. Step-by-step explanation: the money borrowed from a bank is called simple interest in this sentences is True.
Detailed explanation-2: -Interest-The price that people pay to borrow money. When people make loan payments, interest is a part of the payment. Interest Rate-The cost of borrowing money expressed as a percentage of the amount borrowed (principal).
Detailed explanation-3: -The correct answer to the given question is option True. The cost of borrowing is called as interest.
Detailed explanation-4: -The correct option is A principal. The money borrowed or lent out for a certain period is called the principal.
Detailed explanation-5: -to take money from a bank or other financial organization and pay it back over a period of time: Like so many companies at that time, we had to borrow heavily to survive. We could always borrow some money from the bank.