• anonymous
HELP FOR A MEDAL/FAN A wealthy person has a savings account with a bank. Every month, the bank pays this person interest based on the amount of money in their savings account. What would be the most likely effect if the bank stopped paying interest?
  • Stacey Warren - Expert
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  • schrodinger
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  • anonymous
The customer would reinvest his savings somewhere else, and the bank would have less money to lend. The customer would report the bank to the Federal Government and the bank would be closed. The customer would not care because interest rates are not competitive anyway. The customer would leave his money at the bank, and the bank would eventually change its policy.

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