Want this question answered?
20.05
It depends on how you deposit the money 5000 dollars. Checking accounts usually pay very little or 0 interest so we won't be taking that as an option. a. Savings Account - Savings account usually earn around 1% interest per year. So it will be: 50 dollars in 1 year b. Certificate of Deposit - CD's usually earn around 4% interest per year. So it will be: 200 dollars in 1 year
compounding interest.... i think
21.28
21.28
The Interest you earn on a savings account is:An income for youAn expenditure for the bankIs fully taxableIs only 3.5% in IndiaEtc.
interest
No, only their savings account accrues interest.
All Savings accounts earn interest. Here, you deposit money from your earnings into this account. The bank utilizes this money to grant loans and earn a profit out of it. But, in case of a savings account, you can withdraw the money anytime you want and the bank cannot effectively utilize this money for making profits. So they give you only a lower interest rate.
All Savings accounts earn interest. Here, you deposit money from your earnings into this account. The bank utilizes this money to grant loans and earn a profit out of it. But, in case of a savings account, you can withdraw the money anytime you want and the bank cannot effectively utilize this money for making profits. So they give you only a lower interest rate.
A CD savings account might earn money for you. This type of savings account earns interest for the person who purchases the CD.
Savings accounts earn interest.
They are only taxed on the interest. The money in the account should have already had its tax paid as income.
A savings account is a great way to store your money safely and have access to it regularly as well. You savings also earn interest witch helps you earn more money over time.
I used to be earning a much higher interest rate in my savings account
penis lalala poopies testicles
The function of a money market savings account is to earn a higher interest on your balance. Interest is based on current rates in the money markets. A minimum balance is usually required for investment.