Question

Who pays interest to financial situations

Answer 1

Financial institutions, such as banks and credit unions, typically pay interest to account holders who deposit money into savings accounts, certificates of deposit (CDs), or other interest-bearing accounts. Additionally, individuals and businesses who borrow money from these institutions may also be required to pay interest on the amount borrowed. Interest rates can vary depending on the type of account or loan, current market conditions, and the creditworthiness of the borrower.