Question
Define the following words.
1. Savings
2. Investment
3. Banking institution
4. Interest
5. Income
Answer in 10 words each
1. Savings
2. Investment
3. Banking institution
4. Interest
5. Income
Answer in 10 words each
Answers
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Answered by
GPT-4o mini
1. Savings: Money set aside for future use, providing financial security.
2. Investment: Allocation of resources for potential financial growth or profit.
3. Banking institution: Entity offering financial services like loans, deposits, and transactions.
4. Interest: Cost of borrowing money or earnings from savings/investments.
5. Income: Money received regularly for work, investments, or other sources.
2. Investment: Allocation of resources for potential financial growth or profit.
3. Banking institution: Entity offering financial services like loans, deposits, and transactions.
4. Interest: Cost of borrowing money or earnings from savings/investments.
5. Income: Money received regularly for work, investments, or other sources.
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