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A savings account is one in which customers save their monthly savings and they are not like the current account. Though the money is available at any time for the customer to withdraw, money is not as frequently deposited/withdrawn from it like the current account. Hence banks offer a meager interest rate for the money held in this account.
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∙ 13y ago
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What are the average simple savings account interest rates last 10 years?
3%
What if your savings account pays 5 simple interest. You opened your savings account with 200 and did not add any additional deposits. After 2 years your account balance is approximately?
For simple interest you get $10 a year total in the account for 2 years $220.The answer is arrived at by multiplying $200x1.05x1.05 (for compound interest).$200x1.05x1.05= $220.50
Would you rather have a savings account that offered simple interest or an account that offered compound interest?
account and i just want points so yeh
What is a compound interest savings account?
Its where your savings account earns interest on the interest.
What does a CD savings account do for me?
A CD savings account might earn money for you. This type of savings account earns interest for the person who purchases the CD.
By definition a bank that pays simple interest on a savings account will pay interest?
s
What are the average simple savings account interest rates last 10 years?
3%
What if your savings account pays 5 simple interest. You opened your savings account with 200 and did not add any additional deposits. After 2 years your account balance is approximately?
For simple interest you get $10 a year total in the account for 2 years $220.The answer is arrived at by multiplying $200x1.05x1.05 (for compound interest).$200x1.05x1.05= $220.50
Would you rather have a savings account that offered simple interest, or an account that offered compound interest Why?
account and i just want points so yeh
Would you rather have a savings account that offered simple interest or an account that offered compound interest?
account and i just want points so yeh
Can you change a savings account to joint account?
You may be able to add someone to your savings account ..contact the bank where you have the savings account for details
How many typesof account can be opened?
there are many: Checking, savings, investments, Commercial (business) just for starters, most people start by a simple checking and savings.
Where can I find a savings calculator online?
Here are a few really good savings calculator that might help you find what you're looking for: http://www.bankrate.com/calculators/savings/simple-savings-calculator.aspx http://www.ally.com/bank/online-savings-account/calculator.html
The annual interest rate of Belinda's savings account is 8.6 and simple interest is calculated quarterly What is the periodic interest rate of Belinda's account?
2.15% Apex
Is there a monthly service charge to have an Eggs Savings account?
No, the Egg savings account called "Egg Savings Account (internet) Issue 2" does not have a monthly service charge. This type of savings account is accessible online.
What is a compound interest savings account?
Its where your savings account earns interest on the interest.
Why open an savings account?
A savings account is a good place to keep money safe for future needs.
