Why is it important to compare savings accounts to get the best interest rate?

1 answer:

3 0

1.Minimum Balance. A low or no minimum balance requirement helps you save money from day one. Some accounts can be opened with as little as $1 and require no minimum balance.

2. Monthly Fee. Many banks charge a monthly maintenance or service fee for their accounts, especially if your balance dips below a required minimum. Look for an account with no monthly fees.

3. Online Transfers between Accounts. A major advantage to using a savings account is the ability to access your money whenever you want. That includes transactions from the comfort of your home. You should be able to easily transfer funds between your checking and savings accounts online.

4. Automatic Savings Transfers. The best savings tool makes saving money as painless as possible. Some accounts will let you set up an automatic transfer of funds from your checking account at regular intervals. This feature helps you save money before you are tempted to spend it.

5. Security. Shop only for those savings accounts that are insured by the Federal Deposit Insurance Corporation (FDIC). This protects your account balance up to $250,000 in the event of a financial catastrophe.

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HELP

vitfil [10]

I am pretty sure it is C

8 0

2 years ago

Read 2 more answers

Which type of account typically has very high liquidity, low or no interest, and low minimum balance?

faltersainse [42]

I would say that it is a CHECKING ACCOUNT. The answer for this would be option A. This type of account can be accessed anytime which makes its liquidity very high, but on the other side, this has very low interest and the minimum balance required is also low. Hope this helps.

7 0

3 years ago

The opportunity cost of obtaining more of one good is shown on the production possibilities frontier as the

Gekata [30.6K]

Answer:

a. amount of the other good that must be given up.

Explanation:

The mix of two goods or services can be accomplished in the frontier of production possibilities when all available resources and technologies are fully efficient and used. This indicates a mix of the two resources to a maximum.

As we know that, the opportunity cost refers to the cost in which the best alternative is chosen among the available ones which can generate a better return so the one goods are considered while another cost is given up.

5 0

3 years ago

Depreciation of equipment is an example of a(n) relevant cost. opportunity cost. sunk cost. variable cost. None of these.

77julia77 [94]

There are different kinds of cost incurred in business. Depreciation of equipment is an example of sunk cost.

Sunk cost is a financial term for a cost that has been incurred and one cannot recover again. This type of costs are taken as bygone and are not taken into consideration when making decisions.

They are money that has been spent and one cannot get back again. Example is Depreciation, amortization, and impairments.

Lean more about Sunk costs from

brainly.com/question/16524308

7 0

2 years ago

Question 9 (1 point) The consumption functions shows a Question 9 options: negative relationship between consumption and disposa

evablogger [386]

Answer:

positive relationship between consumption and disposable income

Explanation:

The consumption function shows the relationship between consumer spending and disposable income.

the formula used to calculate consumption function is:

C = A + MY

C = consumer spending
A = autonomous spending
M = MPC or marginal propensity to consume
Y = disposable income

The consumption function has a upward slope since the relationship between consumer spending and disposable income is always positive, i.e. the more disposable income you have, the more you will consume.

4 0

3 years ago