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Because loan sharks have to earn an honest living.

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12y ago
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Q: Why do you pay 13 percent interest on a car loan but earn 1.5 percent on a savings account?
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Related questions

Interest that you earn on a savings account is?

The Interest you earn on a savings account is:An income for youAn expenditure for the bankIs fully taxableIs only 3.5% in IndiaEtc.


A What is the money called that you earn on a savings account?

interest


Does BB and T checking account earn interest?

No, only their savings account accrues interest.


Mark deposited 1256 dollars from his summer job in a savings account that pays 4.5 percent interest How much interest will he earn after one year?

100


What does a CD savings account do for me?

A CD savings account might earn money for you. This type of savings account earns interest for the person who purchases the CD.


Jerry invested 14000 in a certificate of deposit at 5 percent he also put 2500 in a savings account at 3 percent how much interest will he earn after?

775


Why does a savings account make a better investment than a checking accounts?

Savings accounts earn interest.


Jerry invested 14000 in a certificate of deposit at 5 percent He also put 2500 in a savings account at 3 percent How much interest will he earn after one year?

$775


Sharon invested 4000 in a certificate of deposit at 5 percent She also put 500 in a savings account at 3 percent How much interest will she earn after one year?

215


Jackie invested 12000 in a certificate of deposit at 6 percent She also put 3000 in a savings account at 3 percent How much interest will she earn after one year?

$810


How much more will 2200 earn in interest than 1400 if they both invested a savings account with APY 5.4 percent for a year?

$43.20 more


Angela would like to know how much money she will earn in nine months on a savings account that pays 7 percent interest on 3256.12?

$170.95