# I was wondering if I could check my answers with someone. I'm a bit confused with interest. I put stars next to the answers I chose. Thank you.

An interest rate is a special type of (1 point)

loan.
**price.
bank.
service.

2.
How does a compound interest rate differ from a simple interest rate? (1 point)

***Compound interest rates pay more interest over time.
Compound interest rates are calculated only once a year.
Compound interest rates are usually lower than simple interest rates.
Compound interest rates apply to home mortgages only.

3.
Rising demand for a certain type of car will probably lead to (1 point)

lower interest rates for all types of vehicles.
lower interest rates for that type of car.
***higher interest rates for all types of vehicles.
higher interest rates for that type of car.

4.
Rohan has \$100.00 that he wants to save in a bank. Bank A offers two types of savings accounts. One has a 5% simple interest rate, and the other has a 4.8% compound interest rate. Bank B also offers two types of savings accounts. One has a 3% simple interest rate, and the other has a 4% compound interest rate. Which account should Rohan choose in order to earn the most interest? (1 point)

Bank A simple interest account
***Bank A compound interest account
Bank B simple interest account
Bank B compound interest account

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1. wrong

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2. these are the correct answers trust me.

1. B
2. A
3. D
4. B

trust me u will get a 100%

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3. Miranda is right!!!!!
1.B
2.A
3.D
4.B

by the way you guys shouldn't be so mean

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4. Yes They Are True!

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