1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
WINSTONCH [101]
3 years ago
15

Why do you want the highest Interest Rate you can find for your savings account?

English
1 answer:
WINSTONCH [101]3 years ago
6 0

Answer:

When it comes to savings, a higher interest rate is the name of the game. It means a better return on your money. The interest rate is what the bank will pay you for the privilege of keeping your money.

Explanation:

For example, it’s not uncommon to get a .01% interest rate on a traditional savings or checking account, while interest rates on high-yield savings accounts can range anywhere from 1% to 1.35%. Here’s how that difference plays out in real life based on a balance of $10,000 after one year, assuming no additional deposits.

Type of savings account /Interest rate/ Balance after one year (based on

                                                               monthly compounding)

High-yield savings account/ 1.35%   / $10,135.84

Traditional savings account/ .01%     /    $10,001

That’s a difference of about $135 a year — nothing to scoff at — but that gap starts to widen the minute you make monthly deposits to boost your savings.

For example, if you made $100 monthly deposits — the equivalent of $1,200 a year — your year-end monthly balance on the low-interest savings account would be $11,201.06, compared to $11,343.29 with a high-yield savings account. Over time, this adds up.

You might be interested in
How did Congresswoman Chisholm appeal to the hearts and minds of her audience?
solong [7]

Shirley Chisholm was a passionate speaker who cared deeply about her constituents. She cared about the poor, she cared about working-class people, she cared about social justice.

8 0
3 years ago
i am make a mobile game i was wording if you guys have any ideals like what do people like in a video games any recommendation
Degger [83]

Answer:

Explanation:

Romance

5 0
3 years ago
Read 2 more answers
2. Odysseus's trouble begins when he tells Polyphemus his real name as he sails away from the Cyclopes' island. Give two or more
Liono4ka [1.6K]
Odysseus identifies himself to gloat and shows the trait of hubris that almost leads to his downfall. He also speaks his real name to further his legend, and to warn others of his strength and power
3 0
3 years ago
That's what ___ is about, isn't it, the ____ transforming of ___. Life of Pi
Vlad [161]

Answer:

That's what fiction is about, isn't it, the selective transforming of reality.  Life of Pi.  

Explanation:

I hope this helps.  

4 0
3 years ago
Read 2 more answers
Which of these is an appeal used in persuasion?<br><br> none<br> all<br> logos<br> pathos<br> ethos
julsineya [31]

Answer:

pathos .....i think it's correct one

Pathos is the way of creating a persuasive argument by evoking an emotional response in the audience/reader.

7 0
3 years ago
Read 2 more answers
Other questions:
  • It’s important to ___ some free time to volunteer work, if you would like to study in a Canadian
    5·2 answers
  • What is the literary term for allegory?
    8·2 answers
  • Using the side notes, restate lines 8-12 in modern English. What joke was smith making?
    13·1 answer
  • Which sentence correctly uses an objective case pronoun?
    15·2 answers
  • Write an essay of at least 200 words discussing the similarities between Joseph Stalin and Francisco Franco.
    12·1 answer
  • Read the haiku by basho.
    10·2 answers
  • What is a synonym for the word “enjoy” in this sentence?
    12·2 answers
  • How many characters' thoughts does the reader have access to in a second-person narrative?​
    8·1 answer
  • Hello, hejwnjxmshskndjdjjdjsjjskskjsjsjsjsjjs
    6·2 answers
  • Read the following thesis statement for an essay. Then, write three hooks for the essay: a question hook, an anecdote hook, and
    8·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!