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Savings OptionsGo to the following website to different savings options.The Mint – It makes cents and InterestSavings AccountsCertificates of DepositBank Money Market AccountUS Savings BondsIf you saved $500 a year for 10 years in a savings account (3%), how much would you have after 10 years? 5,903.90If you saved $500 a year for 10 years in a Certificate of deposit (4.94%), how much would you have after 10 years? 6,581.17It is best to find an interest that is compounded (daily, monthly, quarterly, yearly).Savings accounts are extremely liquid. (True/False)Interest on CD’s is (fixed/variable) ___________?The longer you keep money in a CD, the (higher/lower) _____________ the rate of return will be. The interest rate on a money market account changes (daily/weekly/monthly/yearly).There is usually no minimum balance for a money market account. (True/False)When you buy EE bonds, you pay (1/4, ?, full) value for the bond.Savings bonds are fairly risky. (True/False)What is the Rule of 72? The rule says that in order to find the number of years required to double your money at given interest rate you divide the compound return into 72. ................
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