Questions: 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.

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.

Transcript text: 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.

Solution

Solution Steps

Step 1: Identify the Original Statement

The original statement is: \[ \text{Interest is the amount of money we get paid for borrowing money or that we pay for investing money.} \]

Step 2: Determine the Correct Statement

The correct understanding of interest is: \[ \text{Interest is the amount of money we pay for borrowing money or that we get paid for investing money.} \]

Step 3: Evaluate the Truth of the Original Statement

By comparing the original statement with the correct statement, we find that the original statement is false. The correct statement clarifies that: