Which savings account will earn you the most money?

One that earns simple interest monthly.

One that compounds interest monthly.

One that earns simple interest daily.

One that compounds interest daily.

Respuesta :

Answer:

One that compound interest daily.

Step-by-step explanation:

The account that compound interest daily earn us more money because the interest calculated in this type of account is on daily basis. so we get more money compare to other accounts.

                              And in this type of account we get interest on the interest amount also on the daily basis. So we get more amount on this type of account other than the other accounts. so these account are the best for interest purposes

Based on the period of compounding, the account that will earn the most is one that compounds interest daily.

An account that compounds interest will always give more interest than one that uses simple interest in the same time period so the simple interest options are incorrect.

An account that takes the least amount of time to compound will have more interest than one that takes more time for the same amount which is why an account that compounds daily will give more interest.

In conclusion, the account that compounds daily will give more interest.

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