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Mashutka [201]
3 years ago
14

Why is there a difference between interest charged and interest earned? A)Banks are non-profit institutions.B)Banks are profit-m

aking institutions.C)Banks must pay more than they receive.D)There is no difference between interest charged and interest earned.
Business
1 answer:
skelet666 [1.2K]3 years ago
5 0

The correct answer is choice b.

Banks are profit-making institutions. Their purpose is to make a profit for their owners or stockholders. They need to charge more interest on the money that they loan out than what they pay on savings accounts so that there is a profit for them.

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If a typical firm in a perfectly competitive industry is earning profits. True or False
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Explanation:

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3 years ago
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3 years ago
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