Your cousin is currently years old. She will be going to college in years. Your aunt and uncle would like to have in a savings account to fund her education at that time. If the account promises to pay a fixed interest rate of per year, how much money do they need to put into the account today to ensure that they will have in years?.

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13-09-2022
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Your cousin is currently years old. She will be going to college in years. Your aunt and uncle would like to have in a savings account to fund her education at that time. If the account promises to pay a fixed interest rate of per year, how much money do they need to put into the account today to ensure that they will have in years?.

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nutanraj654 nutanraj654 · Answer 1 · 2022-09-16T16:23:41+02:00

A savings account is a hobby-bearing deposit account held at a bank or different economic group. though this money owed typically pays a modest hobby price, their safety and reliability lead them to an awesome choice for parking coins you need available for quick-term needs.

A savings account is a basic type of financial product that permits you to deposit your money and generally earn a modest amount of interest. those debts are federally insured for as much as $250,000 in keeping with the account owner and offer a safe area to place your money at the same time as income interest.

Savings bills are truly a very low danger, as long as your financial institution is FDIC insured. The FDIC insures each depositor, which means anybody who deposits cash, for as much as $250,000, according to the insured financial institution.

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