Families of Ballymurphy Massacre victims outside coroners court

What is the primary focus of the introduction section?

• The history of interest rates

• Interest rates in different countries

• The concept and importance of interest

• Mathematical formulas for calculating interest

Which type of interest is typically used in savings accounts?

• Variable interest

• Fixed interest

• Compound interest

• Simple interest

How does compound interest differ from simple interest?

• It includes interest on previously earned interest

• It is always lower than simple interest

• It is used only for loans

• It is calculated only once a year

What is a key factor in determining the impact of interest on financial planning?

• The color of the currency

• The interest rate and time period

• The number of transactions

• The type of bank

Why is understanding interest important for financial decisions?

• It helps in choosing the right bank

• It influences borrowing and investment choices

• It determines the color of money

• It is only relevant for accountants