A savings account earns 3.6% (APR), compounded monthly, so it earns 0.3% each month. Mauricio has $1000 in the account now. If he deposits an additional $500 at the beginning of the month, how much total interest will Mauricio receive at the end of the month?
A) $1.50
B) $5.40
C) $4.50
D) $4.80

A savings account is a simple account type that allows you to safely deposit funds in a bank. It guarantees security and access to your money whenever you need it. You can withdraw your money digitally or directly at any time.

Is a traditional savings account still worth it to you? If used correctly, the answer is definitely yes. Best Savings Accounts: Choose a top bank high-yielding saving account at a rate ranging from 5 to 10 times the national average and start saving today.

Three common types of savings accounts are time deposits, call money, and CDs. In terms of accessibility and interest, each behavior is slightly different. In addition to these accounts, there are other ways to save.

Learn more about a savings account here: https://brainly.com/question/25787382

#SPJ2

A savings account earns 3.6% (APR), compounded monthly, so it earns 0.3% each month. Mauricio has $1000 in the account now. If he deposits an additional $500 at the beginning of the month, how much total interest will Mauricio receive at the end of the month? A) $1.50 B) $5.40 C) $4.50 D) $4.80

Respuesta :

What is a Savings Account?

Otras preguntas

A savings account earns 3.6% (APR), compounded monthly, so it earns 0.3% each month. Mauricio has $1000 in the account now. If he deposits an additional $500 at the beginning of the month, how much total interest will Mauricio receive at the end of the month?
A) $1.50
B) $5.40
C) $4.50
D) $4.80