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

What is the range The range is _______
What is the answer for this question 5 1/2=1/2x
What body of water is Vietnam located on ?
What are high-risk loans? A. loans that are invested in high-risk stocks B. loans that are given for risky home properties C. loans that are given to cons
what salt is produced when potassium hydroxide and hydrobromic acid react
True or False: When someone is making an argument they ALWAYS include the premises first and the conclusion second. ​
Number the sentences in order to create a strong body paragraph. Use the number to indicate the first sentence of the paragraph. He is embarrassed because the t
Multiply the sum “n + 25” by 3/5
Which would most frequently be governed at the local level •EPA •Medicaid •health department
Sunland Company purchased a machine on July 1, 2018, for $1480000. The machine was estimated to have a useful life of 10 years with an estimated salvage value o