How does the amount of money in your savings account grow over time?
(1 point) Responses Banks who are insured through FDIC add money to your savings account each month. Banks who are insured through FDIC add money to your savings account each month. Money from your checking account is automatically moved into your savings account every month. Money from your checking account is automatically moved into your savings account every month. Money in your savings account earns a certain amount of principal each year. Money in your savings account earns a certain amount of principal each year. You can earn interest on the money you keep in your savings
account, which will cause the amount of money in your savings account to grow over time. The interest rate on your savings account may vary depending on the bank and the type of account you have. Some savings accounts have a fixed interest rate, while others have a variable interest rate that can change over time. The more money you keep in your savings account and the longer you leave it there, the more interest you will earn and the faster your savings will grow. Additionally, some banks offer promotions or bonuses for opening a new savings account or reaching certain savings goals, which can also help your savings account grow over time.
