Question

John just opened a savings account and wants to maximize the amount of interest he ears. Which of the following actions

would enable him to earn MORE interest?
Selecting an account with a high
interest rate.
Leaving his money in the account for long
period of time.
Transferring money into his checking account
each month.
Both
A &

Answer 1

Both A & B

Step-by-step explanation:

An account with high interest is going to earn you more interest, and also you can earn more interest through leaving the money in the account for a long period. You should know that with checking accounts, you can take care of daily use only, and it provides no or very little interest. And it is the saving bank account that helps you to raise funds for future. And hence the option mentioned in the answer section is the correct one.