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Bank account interest

bank account interest

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Find your bank's account policies concerning interest bearing accounts. In addition to the interest rates, you need to know if and when interest is compounded, and when interest rates are recalculated in reaction to fluctuations in the prime rate. Many banks have different policies for different types of accounts, so be sure to read the fine print.

Write down the interest rate earned by each account. Be sure to include interest terms, compounding information and other details that may affect the final total.

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