WONDER #382: What Is Compound Interest?
Question 1 of 3
Money financial institutions pay you for keeping your money in an account with them is called what?
- service fee
Question 2 of 3
When you earn interest on your interest, your financial institution is paying you what kind of interest?
Question 3 of 3
Which of the following is NOT an example of an investment a financial institution might make so that it can pay compound interest to customers for the privilege of using their money?
- mutual funds
- expense account
Check your answers online at https://www.wonderopolis.org/wonder/what-is-compound-interest.