What can you do with small savings?
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bank
Apprentice
Joined: 03 Aug 2007
Posts: 6
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 Posted: 11/27/07 - 11:14 Post subject: |
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| My young cousin wont to go to the summer holiday next year in Germany, and he need extra cash to buy some souvenirs and snickers for him. He asked me what he can do with his small savings. He have never traveled Europe and he is so excited because of that. |
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killie
Apprentice
Joined: 09 Nov 2005
Posts: 2
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| Posted: 12/26/07 - 23:58 Post subject: |
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| I said to him that in one year he can do that on many ways, but the easiest way is bank. All that he need to do is to put the money in the bank and waiting to pas 12 Months. The procedure is next: He puts his money in to a saving account and bank will pay him his interest payment .After first month bank pays him his interest of 3 on his money and put that same money on his account. After the 2-th month payment was 3 of his money plus the interest payment of the last month. What means that every month his interesting payment growing up until he decides to pick up his money. |
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