Accordingly, in his speech, President Truman requested that Congress provide $400,000,000 worth of aid to both the Greek and Turkish Governments and support the dispatch of American civilian and military personnel and equipment to the region. Truman justified his request on two grounds.
Money grows in a savings account because: a. The account holder usually makes small deposits regularly into the account. b. The money in the account earns a small interest and hence keeps growing in value. A savings account is one in which customers save their monthly savings and they are not like the current account. Though the money is available at any time for the customer to withdraw, money is not as frequently deposited/withdrawn from it like the current account. Hence banks offer a meager interest rate for the money held in this account. Money grows in a savings account because: a. The account holder usually makes small deposits regularly into the account b. The money in the account earns a small interest and hence keeps growing in value
A Money Market Account (MMA) is a type of savings account that usually earns a higher amount of interest than a basic savings account. The minimum deposit and balance for this account is often considerably higher than the minimum balance of a basic savings account. They can range from $500-$50,000. What Happens When I Deposit Money Into A Money Market Account? When you deposit money into your Money Market Account, it earns interest just like a regular savings account. That interest is the bank's way of thanking you for letting them use your money. Banks then take that money and make other investments or loans. How Does Interest Work With an MMA? The interest on a Money Market Savings Account is usually compounded on a daily or monthly basis and paid on a monthly or quarterly basis.