Question

How does the amount of money in your savings account grow over time?(1 point)

Responses

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 in your savings account earns a certain amount of principal each year.

You can earn interest on the money you keep in your savings

explain which is correct

Answer 1

[AI-generated answer — Bot GPT 3.5]

The correct response is: Money in your savings account earns a certain amount of interest each year. Interest is earned on the balance in your savings account over time, allowing your money to grow.