When the interest rate on savings is half the interest rate on a loan,it is ____________.
A)less expensive to borrow to make a purchase
B)more expensive to use your savings for half the amount required to purchase
C)less expensive to use your savings to make a purchase
D)less expensive to borrow to save

Question

When the interest rate on savings is half the interest rate on a loan,it is ____________. ​
A)less expensive to borrow to make a purchase
B)more expensive to use your savings for half the amount required to purchase
C)less expensive to use your savings to make a purchase
D)less expensive to borrow to save

Quizplus · Accepted Answer

When the interest rate on savings is half the interest rate on a loan, it is more cost-effective to use savings to make a purchase instead of taking out a loan and paying higher interest rates.

When the Interest Rate on Savings Is Half the Interest