Posted by alex on Friday, July 20, 2012 at 5:34pm.
How are you helping businesses expand when you put money in a savings account?

Economics  Ms. Sue, Friday, July 20, 2012 at 5:37pm
You're not.

Economics  Ms. Sue, Friday, July 20, 2012 at 5:38pm
The only business you're helping is the bank that makes money from your savings account.

Economics  alex, Friday, July 20, 2012 at 5:40pm
well the 3 choices are...
The interest you earn can be spent at local businesses.
Banks lend your saved money to businesses to help them expand.
By learning to save, you are increasing your value as a worker.

Economics  Ms. Sue, Friday, July 20, 2012 at 5:48pm
I don't like any of your choices. But your teacher is probably looking for the middle choice.
Since savings accounts earn less than 1% interest per year, you'd have to have $10,000 in the account to have $100 to spend a year.
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