Question

Pls answer quickly, this is due today !!!!!!

Mrs. Rappa has decided to take her $2,000 and go check out the savings accounts at Circle Bank of PI Haven. She picks up a flyer in the lobby. There are a couple of savings accounts to choose from. Look at the copy of the information from the flyer below. Write a letter to Mrs. Rappa and offer your advice to her about her options. Be sure to tell Mrs. Rappa your reasoning (using sentences and showing calculations for each account) to decide which account is best. If you have additional advice for Mrs. Rappa about the number of years she is investing her funds - you may do so.



Savings Accounts Interest Rate Years in account

Sleepy Savings 5% 7

Centsational Savings 10% 3

Answer 1

Explanation:

Dear Mrs.Rappa,

I don't know much about this but i do know that saving accounts are risky and she should just set up a checking. Because it's proven that you'll take the risk of losing value in your money. And you take a risk, but to help you more i need to know about what the 5% 7 means. if i do know what it's means, but the 5% is good, it's compound interest which means you get more money on that interest It grows, but as far as the 7 goes, IDK. but the saving %"s are good like yay money, but she takes the risks. So why the risk is there is because of the stock market, and also because the bank takes other clients money for them to pay other client's. So a risk in 7yrs.

Sincerely,

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