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.
That footnote can play a large role in helping Karim better understand the myth, because instead of just listing the source, it gives a bit of history about the subject.
Robinson Crusoe said he lived in fear for two years after seeing the footprint in the sand.
The poem speaks of a giant statue of a great and well-renowned king, but that statue lies destroyed in the sand. It speaks of the king being so famous that even "the mighty" cannot compare with it. And yet, in an ironic twist, this statue is described as a wreck. This implies that death overpowers even great fame and wealth, and the best choice is A.
Done :) have a good day!!
