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amid [387]
3 years ago
9

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

History
2 answers:
umka2103 [35]3 years ago
7 0
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
olya-2409 [2.1K]3 years ago
5 0
True simple interest is earned on a bank balance
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