Melissa is a salaried employee who earns roughly the same amount in every paycheck. Why would it be a great idea for her to set up an automatic transfer every pay period into her savings account?

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1 May, 16:18

Melissa is a salaried employee who earns roughly the same amount in every paycheck. Why would it be a great idea for her to set up an automatic transfer every pay period into her savings account?

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Samir Gomez · Answer 1

it would allow her to earn a fixed amount of interest in her savings account.

Explanation:

Based on the information provided within the question it can be said that in this scenario this would benefit her greatly because it would allow her to earn a fixed amount of interest in her savings account. Savings accounts pay the individual an interest rate for merely keeping their money in a savings account. Therefore by doing so she would be making extra money without doing any extra effort.