A...............................account earns less interest
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The interest rate determines how much money a bank pays you to keep your funds on deposit. ... Your savings account interest could compound daily, monthly, quarterly or annually. Suppose you deposit $5,000 into a savings account, don't deposit or withdraw any more money and the interest rate doesn't change.
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The interest rate determines how much money a bank pays you to keep your funds on deposit. ... Your savings account interest could compound daily, monthly, quarterly or annually. Suppose you deposit $5,000 into a savings account, don't deposit or withdraw any more money and the interest rate doesn't change.
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