Rates and accounts
Quiz
Choose the correct answer.
The sum borrowers pay to lenders for the use of their money is determined by the ...
- interest rate
- exchange rate
The value of the money of one country compared to that of another is shown by the ...
- bank rate
- exchange rate
The rate of the tax added to the price of an article, paid by the buyer to the seller, and by the seller to the government is the ...
- VAT rate
- interest rate
The rate of interest fixed by a central bank, such as the Bank of England, is the ...
- bank rate
- exchange rate
The interest which a bank charges on loans is at a rate which is usually higher than its ...
- interest rate
- base rate
The bank account that covers daily needs - salaries are paid into it, cash is drawn from it, and cheques are written against it - is the ...
- current account
- deposit account