Answered

Issues
When should you start saving in an account with compounding interest? Select al
that apply.
a) As soon as you feel settled and have enough cash on hand
b) As soon as you earn a high income
c) As soon as possible
d) As soon as you get your first full time job



Answer :

GinnyAnswer

Final answer:

Starting to save as early as possible is crucial to benefit from compounding interest, which significantly grows your money over time.


Explanation:

Compounding interest is a powerful tool when it comes to saving and investing money. Starting to save as early as possible allows your money to grow significantly over time through the impact of compound interest. For example, a [tex]$3,000 investment at age 25 with a 7% annual rate of return can grow to nearly $[/tex]45,000 after 40 years.


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