One recent academics question and answer asked over students to express what they agree to is the most important thing for a student to do in order for you to become success. The one that response stood out from the rest was practice. People who generally are successful do not become successful by being born. They work hard and determination their lives to succeeding. If you want to complete your goals, keep this in mind! in the following paragraphs are one of the answer and question example that you can use to practice and enhance your understanding and also give you insights that can help you to keep up your study in school.

## Question:

A savings account that pays interest every month is said to have a _______ interest period.

## Answer:

A savings account that pays interest every month is said to have a **Quarterly **interest period.

- The term “
**interest period**” refers to either the**duration**for which an interest rate is set or the time**frame**for which**interest**is due. - It could be every
**quarter**, every**month**, every**half-year**, or even every year. **Quarterly**is**one-fourth**of a**year**(**3 months**).

## Do savings accounts pay interest monthly?

- With most
**savings accounts**and money**market**accounts, you’ll**earn**interest every day, but**interest**is typically paid to the**account monthly**.

## How does interest on savings account work?

- When you earn
**interest**in a savings**account**, the bank is**literally paying**you**money**to**keep**your cash**deposited**there. - Savings
**accounts**earn**compound**interest, which**means**the interest you**earn**in one**period**gets**deposited**into your**account**, and then in the**next period**, you earn**interest**on that**interest**.

## How much interest does a savings account earn?

- The
**average savings**account earns an annual**percentage**yield of around**0.06%**, while**high**–**yield accounts**currently earn**around**0.5**% APY**. - Although it’s not as much as they have
**previously**earned, it’s still**better**than**nothing**.

Learn more about **savings account** here:

#SPJ2

From the answer and question examples above, hopefully, they might be able to assist the student sort out the question they had been looking for and take note of most things stated in the answer above. You could certainly then have a discussion with your classmate and continue the school learning by studying the question as a group.