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3.
A higher level of interest income can be received if a savings account offers a promotional rate.
True
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AI
True.
Promotional rates are typically higher interest rates offered for a limited time or with conditions (e.g., new customers, minimum balance). They can increase interest income while they apply, but usually revert to a lower regular rate afterward.
Promotional rates are typically higher interest rates offered for a limited time or with conditions (e.g., new customers, minimum balance). They can increase interest income while they apply, but usually revert to a lower regular rate afterward.
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