mariahahaha
mariahahaha mariahahaha
  • 02-01-2021
  • Mathematics
contestada

How does saving money in an account with compound interest help protect you from inflation?

Respuesta :

snoopy72 snoopy72
  • 02-01-2021

Answer:

Inflation is caused by the increase in prices of goods, and as prices of goods rise, the value of money itself would decrease. By saving money in a savings account with interest that might be equal or more than the level of inflation, your money would increase, which protects you from the devaluation of the savings you hold and the rising prices of goods.

Answer Link

Otras preguntas

Why do you think it was important for woman and Byzantine
Qonichua bien benitoes
[tex]3a-5=-23[/tex] Thank you!! :)
NO LINKS Write an inequality for x that would give this rectangle an AREA of at least 300ft sq2. the numbers are x+5ft 3ft
write about any 8 areas of field where physics is applied. illustrate with examples.
Read the passage, then answer the question that follows. As ever, sugar work was brutally hard. The workers woke early, and for the first few months they were “
Why do we need to pay extra attention to details in short stories?
Please help me out with a citation example.
Help pls 20 points I will give brainleyest
Choose the correct answer. Choose the equation of a line that is perpendicular to the x-axis and passes through the point (1, -2). a. x= -2 b. x= 1 c. y= -2x +