Respuesta :
Myron has least amount of money which is $1,698
According to the question
Given that ,
amount of saving of Myron is $1,698
amount of saving of Robert is $1,898
Toby has $100 less than Robert
amount of saving of Toby is $100 less than Robert
Robert has $1,898
amount of saving of Toby = $1,898 - 100
= $ 1,798
Myron has least amount of money which is $1,698
Savings account is a basic account type that lets you deposit money safely with a bank. It ensures safety and access to your money whenever you need. You can withdraw your funds, either digitally or in person, at any point in time.
Having a savings account is a liquid investment, so you have the ease of using your funds any time for transactions. A savings account also earns decent returns;
A savings account is like a virtual locker that safeguards your money and pays a certain amount of interest. As opposed to a fixed deposit (FD), you can use the money in your savings account whenever you need. A savings account also has other uses.
With your savings bank account, you make transactions, receive payments, pay your credit bills, and make investments. You can also pay for utilities such as electricity bills, ration, mobile phone recharges, and shopping. A savings account safeguards your money from theft and misplacement and reduces the stress that comes with carrying too much cash.
how to calculate saving
If the daily amount is Rs 3 lakhs and the interest rate on the savings account is 4% per year, the computation will be Interest on a monthly basis = Daily Balance * (Number of days) *Interest / (Days in the year)3 lakhs * 30 * (4/100) / 365 = Rs 986 per month in interest Daily
balance: 3 lakh
Number of days: 30
Interest: 4%
Days in the year: 365
According to Bank, "Savings bank interest will be calculated on the daily balances maintained in your account. Savings Bank interest will be paid at quarterly intervals."
learn more about saving account here : brainly.com/question/3811440
SPJ9
