3 An individual deposits his monthly paycheck in a checking account. A(n) bank accumulates the funds from many checking accounts and loans money to a person who borrows money to buy a house. The homeowner makes monthly mortgage payments to the bank. The bank uses the mortgage payments to cover the checks written by the person with the checking account. In this example of the cycle of money, the benefit for the lender is: the ability to pay bills with just the interest earned on the checking account. the convenience of using a checking account to pay bills. An individual deposits his monthly paycheck in a checking account. A(n) bank accumulates the funds from many checking accounts and loans money to a person who borrows money to buy a house. The homeowner makes monthly mortgage payments to the bank. The bank uses the mortgage payments to cover the checks written by the person with the checking account. In this example of the cycle of money, the benefit for the lender is: For the bank, the benefit is: the ability to earn more interest from the homeowner than the interest paid to the lenders. C the ability to loan money to customers who need money to pay bills. 1 An individual deposits his monthly paycheck in a checking account. A(n) bank accumulates the funds from many checking accounts and loans money to a person who borrows money to buy a house. The homeowner makes monthly mortgage payments to the bank. The bank uses the mortgage payments to cover the checks written by the person with the checking account. In this example of the cycle of money, the benefit for the lender is: For the bank, the benefit is: For the homeowner, the benefit is: An individual deposits his monthly paycheck in a checking account. A(n) bank accumulates the funds from many checking accounts and loans money to a person who borrows money to buy a house. Th homeowner makes monthly mortgage payments to the bank. The bank uses the mortgage payments to cover the checks written by the person with the checking account. the ability to buy a house before accumulating the necessary funds. the ability to earn interest on the mortgage loan