QUESTION IMAGE
Question
compound growth has a few factors it depends on.
besides good interest rates, what else do you need for this kind of
growth?
choose 1 answer:
a letting your savings sit and grow for many years
b keeping a close eye on how much you spend
c constantly moving your money to new banks
d adding more money to your savings every single week
Compound growth (like compound interest) relies on time for the interest (or growth) to compound. Letting savings grow over many years allows the growth to build on itself (interest earns interest). Option B is about spending, not compound growth. Option C (moving money) disrupts compounding. Option D (adding weekly) is about regular contributions, but compound growth's key factor here (besides rate) is time. So A is correct.
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A. letting your savings sit and grow for many years