Respuesta :
To get the maximum benefits and the compounding effect ion the savings the savings are to be started as soon as possible to gain the highest savings benefit.
What is compound?
Compound is a way of calculating and increasing the savings, in compound method the interest rate is applied on the complete amount available at a certain time in the account, as compared to normal interest which is applied to only principal amount.
The interest or the benefit earned in a compound is greater as compared to a normal interest. In compounding the benefit is that the interest earned in the past years also earn interest and so there is a great benefit when the savings are matured for a good time.
Therefore it is highly recommended that the savings must be started while you are still young, so that the future benefits can be greater.
Learn more about Compound at https://brainly.com/question/27285456
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