The reason compound interest earn you a higher APY on savings account is with compounding you earn interest on the money that has already earned interest.
With compound interest, interest is earned on the amount of money that has already earned an interest. On the other hand, with simple interest, interest is earned only on the principal.
Imagine that you deposit $100 in a savings account with an interest rate of 10% and annual compounding.
Value of the account in one year = 100 x (1.1) = 110
Value of the account in two years = 100 x (1.1)² = 121
Imagine that you deposit $100 in a savings account with an interest rate of 10% and simple interest.
Value of the account in one year = 100 + (100 x 0.1 x 1) = 110
Value of the account in two years = 100 + (100 x 0.1 x 2) = 120
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Businesses decrease their incentives that will lead to minimizing their ability to carry out their part for social responsibility of the triple bottom line.
The bottom line is an obligation on businesses to not just look for their profit but include and maintain a good balance between these factors:
Similarly, businesses need to follow the Triple bottom line in these ways:
- Making sure that there is positive social welfare on their part.
- Maintain ecological footprint
Thus, by the looting of shops and malls, the ability of businesses to meet both their social responsibility and Triple bottom line is minimized and not as it was in normal conditions.
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Answer:
b
"Saving for a Rainy Day"
Explanation:
"saving for rainy day' is a phrase that means putting some money a side for use in times of need. The phrase encourages people to save money for emergency use. As a rule of thumb, one should have at least three times their normal income as savings.
Answer:
A. That money earns interest when the bank loans it out.
Explanation:
Banks pay their customers interest on the money in their accounts because that money earns interest when the bank loans it out.
Answer:
always be it and never fail
Explanation:
