Since the bank is using your money for that time period,it will pay you interest.You will earn more interest with a CD than in a savings account.Can you guess why? Its because you promise to leave your money in the bank for a certain period of time. Banks pay different rates of interest. So, you may want to compare rates in newspaper ads before buying a CD.
36 Which way will help your money earn more money?
A Putting your money in your room.
B Putting your money in a piggy bank.
C Putting your money in your pocket.
D Putting your money in a savings account.
37 Interest is the amount of money which
A a bank lends to people.
B a bank loans to businesses.
C a bank pays you.
D a bank uses.
38 A bank statement tells you
A the amount of money you have in the bank.
B the current rates of interest.
C the current rates of exchange.
D the best way to save your money.
39 If you draw your money before it is due.
A you have to pay interest to the bank.
B you have to close your account
C you have to open a new account.
D you have to pay a penalty or fee.
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