Gabriela invests $10,000 in a savings account that earns 6% interest compounded annually. How much will her investment be worth after 5 years? Show the work

Banks pay interest to customers through a:

What are the advantages of saving your money at a bank?

Would you rather invest your money and earn 6 percent interest or save your money in a bank savings account and earn 0.25 percent? Explain your answer below.

Is it realistic for you to save $20 a month? Explain your answer below.

Your friend has just started his first job, working weekends at a local restaurant. He has come to you for advice on saving money at a bank for his first car. He doesn't have any bills and makes around $400 a month. He has already saved $250 and keeps his money at home. Since he is unfamiliar with banks, what advice would you give him regarding saving his money?

Interest rates on traditional savings accounts are normally well below the interest rates used in the examples above.

Using the same online calculator, calculate how much your money will grow if you contribute $2o a month and your interest rate is 0.25 percent. Enter o for interest rate variance range.