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 Though the money is available at any time for the customer to withdraw, money is not as frequently deposited/withdrawn from it like the current account.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
When your money grows, so does your tax bill. A money market deposit account usually gives you more bang for your buck than a regular savings account. A money market account normally pays higher interest, and it also allows you to write three checks each month and make in-person withdrawals.However, don't make plans for that extra interest too fast. Like interest on a regular savings account, you must pay income taxes on it.f you earn more than $10 in interest at one institution, you should get a Form 1099-INT showing your interest for the tax year. A copy is also provided to the IRS. If you do not receive this form, call the institution with which you have an account and request it.