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

1. A football is kicked horizontally from a 20m high wall. How long is it before it lands? Take gravity to be 10 m/s*2 and ignore air resistance.2. If its horiz
How much radiaton does a modern day phone have?+does it harm the human body?​
what word contains the ketters N and Y and a?
please help me answer this
The hypotenuse of a right angled triangle has its ends at the points (1, 3) and (-4, 1). Find the equation of the legs (perpendicular sides) of the triangle.
20 years ago a top of the line video game console cost $500 if the inflation rate is 5% compounded continuously how much would that same console cost today?
12345 secret code in english​
Multiply: -5 x (-3) x 7a. 90b. -105c. 105d. -90
Nearly 1 million South Sudanese refugees in Uganda.a. Trueb. False
What is the full form of WHO?