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ser-zykov [4K]
2 years ago
5

An account that generates interest income on the available balance in the account.

Business
1 answer:
o-na [289]2 years ago
5 0

An interest-bearing account is an account that generates interest income on the available balance in the account.

What is an interest-bearing account?

An interest-bearing account computes interest based on the balance outstanding on the loan or investment account, for instance, a monthly compounding deposit account where the interest paid on the account on monthly basis on the available balance before interest computation.

There also non interest-bearing account which only promises a particular amount when the deposit or investment account matures rather than paying on the balance.

Find out more about interest-bearing account on:brainly.com/question/11484066

#SPJ1

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