Banks who are insured through FDIC add money to your savings account each month.
Banks who are insured through FDIC add money to your savings account each month.
Money from your checking account is automatically moved into your savings account every month.
Money from your checking account is automatically moved into your savings account every month.
Money in your savings account earns a certain amount of principal each year.
Money in your savings account earns a certain amount of principal each year.
You can earn interest on the money you keep in your savings
1 answer
The correct statement regarding how the amount of money in your savings account grows over time is:
You can earn interest on the money you keep in your savings.
When you deposit money into a savings account, the bank pays you interest for keeping your money with them. This interest is typically calculated as a percentage of your account balance and is added to your savings, allowing your money to grow over time.
