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22 November, 18:36

Simple interest is earned on a bank balance. True or False

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Answers (2)
  1. 22 November, 20:12
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    True ... Savings accounts earn interest on the amount of money deposited into the account. The formula to determine simple interest in a savings account is the deposit amount times the annual interest rate times the amount of time the money is deposited
  2. 22 November, 22:00
    0
    True simple interest is earned on a bank balance
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