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, and you may want to compare rates in newspaper ads before buying a CD
6 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
7 Interest is the amount of money which
A bank lends to people
B a bank loans to businesses
C a bank pays you
D a bank uses
8 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
9 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
10 The word touch in paragraph 7 could be best replaced by
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