Question

Money paid (cost of credit) for the use of money is called ?

Answer 1

Answer:

Explanation:

Understanding the Cost of Funds. For lenders, such as banks and credit unions, the cost of funds is determined by the interest rate paid to depositors on financial products, including savings accounts and time deposits.

Answer 2

Answer:

For lenders, such as banks and credit unions, the cost of funds is determined by the interest rate paid to depositors on financial products, including savings accounts and time deposits.