If you had a savings account at a bank, which of the following would - ProProfs
     

If you had a savings account at a bank, which of the following would be correct concerning the interest that you would earn on this account?



A. Sales tax may be charged on the interest that you earn.
B. You cannot earn interest until you pass your 18th birthday.
C. Earnings from savings accounts interest may not be taxed.
D. Income tax may be charged on the interest if your income is high enough.

This question is part of FoolProof Financial Literacy Quiz

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foolproofteacher

Foolproofteacher

Answered on Jun 02, 2017

Income tax may be charged on the interest if your income is high enough.

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