Question

determine whether the statement is true or false. if the statement is false, make the necessary change(s) to produce a true statement. interest is the amount of money we get paid for borrowing money or that we pay for investing money. choose the correct answer below. a. the statement is true. b. the statement is false. interest is the amount of money we pay for borrowing money or that we pay for investing money. c. the statement is false. interest is the amount of money we pay for borrowing money or that we get paid for investing money. d. the statement is false. interest is the amount of money we get paid for borrowing money or that we get paid for investing money.

Explanation:

To determine the validity, recall the definition of interest: when borrowing, you pay interest; when investing, you receive (get paid) interest. The original statement has the actions reversed (says "get paid for borrowing" and "pay for investing", which is incorrect). Option C corrects this: pay for borrowing, get paid for investing.

Answer:

C. The statement is false. Interest is the amount of money we pay for borrowing money or that we get paid for investing money