Mr. G assignment

“MR. G’s assignment”

By: Cole D.

What is a savings account? A savings account is when are accounts maintained to pay for interest not used directly for money.

How do you make money through a bank? Take out a loan or set up a saving account.

Define interest? A fee paid on borrowed assets.

What two types of interest are named? Future interest and Executory interest.

When does interest work in your favor? When you are collecting something from your business.

Banks pay interest in two ways. What are they? Through loans and through investments.

Compound interest makes your savings grow faster.

Savings- A fund of money.

Bank-A business establishment in which money is kept for saving or commercial purposes or is invested, supplied for loans, or exchanged.