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strojnjashka [21]
3 years ago
8

How does savingd intrest work?​

Business
1 answer:
Vinvika [58]3 years ago
8 0

Answer:

The interest rate determines how much money a bank pays you to keep your funds on deposit. If the account has a 1.00% interest rate and the interest compounds annually—that is, the bank pays you interest on your balance once each year—you'll earn $50 after the first year.

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