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. 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
account, which will cause the amount of money in your savings account to grow over time. The amount of interest earned will depend on the interest rate set by the bank and the amount of money you have in your account. The more money you have in your savings account and the higher the interest rate, the more your savings will grow over time.
whats the answer
Money in your savings account earns a certain amount of principal each year.
George wants to start saving more money. What is a good first step for him to follow? (1 point) Responses Identify and cut all essential expenses. Identify and cut all essential expenses. Start putting 15% of his income into savings. Start putting 15% of his income into savings. Reduce spending on all expenses. Reduce spending on all expenses. Track his expenses for one month.
Track his expenses for one month.
What is a business that keeps, exchanges, and lends money to people? (1 point) Responses Account Account Bank Bank Interest Interest Loan Loan
Bank
What can be cut from a person’s budget in order to save money?(1 point) Responses essential expenses essential expenses income from wages income from wages income from interest income from interest non-essential expenses
non-essential expenses
Mortgage payments and student loans are examples of... (1 point) Responses assets assets credit credit collateral collateral income
