mariahahaha
Answered

Get the answers you need at Westonci.ca, where our expert community is dedicated to providing you with accurate information. Get accurate and detailed answers to your questions from a dedicated community of experts on our Q&A platform. Join our Q&A platform to connect with experts dedicated to providing accurate answers to your questions in various fields.

How does saving money in an account with compound interest help protect you from inflation?

Sagot :

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.

We hope this information was helpful. Feel free to return anytime for more answers to your questions and concerns. Thank you for choosing our platform. We're dedicated to providing the best answers for all your questions. Visit us again. Thank you for using Westonci.ca. Come back for more in-depth answers to all your queries.