Asked by Jordan Cornelius on Jul 05, 2024
Verified
________ is the cost to the customers or the fee the bank charges those customers for borrowing money.
A) Interest
B) A service charge
C) Tax
D) Tariff
E) A dividend
Service Charge
A service charge is an additional fee collected for the provision of a service, often seen in hospitality, banking, and restaurants.
Interest
The fee paid for borrowing money, typically expressed as a percentage of the money borrowed, or curiosity and attention towards something.
Dividend
A portion of a company's earnings distributed to shareholders as determined by the board of directors.
- Acquire knowledge on the effects of inflation and currency volatility on the purchasing actions of consumers.
Verified Answer
TM
Tayte MotsingerJul 08, 2024
Final Answer :
A
Explanation :
Interest is the fee charged by the bank to customers for borrowing money.
Learning Objectives
- Acquire knowledge on the effects of inflation and currency volatility on the purchasing actions of consumers.