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2. Which type of account(s) give you the LOWEST rate of return on your money?

1 Answer

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Answer:

Bank, savings account.

Step-by-step explanation:

The average interest rate that you get if you put your money in Saving account is only between 0.06 - 0.35 % each year. For most people, this won't even cover the bank charges.

But, other form of accounts that provide you higher interest rates typically less liquid. It means that the amount of money that you put would be stuck in that account for a specific period of time. You wouldn't be able to take out the money that you put in such account until the period is over.

User Matthias Winzeler
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