To determine the national average for interest rates on most savings accounts, we need to evaluate each option and consider what is known about current savings account interest rates.
First, let's break down each option:
Option A: 1%-5%
- This range is relatively high for a standard savings account. While you might find some high-yield savings accounts offering rates at the higher end of this range, these are not typical for most savings accounts.
Option B: 10%-15%
- This range is extremely high and unrealistic for savings accounts in most major economies. Such rates are generally not seen in standard savings accounts, as they would be unsustainable for banks.
Option C: less than 1%
- This option aligns with current trends. As of the latest data, the national average interest rate for savings accounts is typically less than 1%. This is a realistic and common value for most standard savings accounts.
Option D: 5%-10%
- This range is quite high for traditional savings accounts. While you might find these rates in more aggressive investment vehicles, they are not typical for standard savings accounts.
Given the analysis:
- The national average for interest rates on most savings accounts falls into the category of "less than 1%."
Therefore, the correct answer is:
C. less than 1%.
