BigWig’s Q&A: An Interest in Interest

Hi, Earth Agents!

I’m back this week with
another BigWig’s Q&A...

That’s when you ask me a
Question, blog readers...

... and then I give
you the Answer!

 

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This Week’s Question:

How is my interest calculated
at the Woogi Vault?

BigWig’s Answer:

Each day you get interest based on the
amount of watts you have saved in your
account and your account type.

Allow me to explain further...

 

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How Interest Works at the Vault

Normally, it’d be Mr. Wigwatts who could best explain
something like interest to you, but since he’s missing
right now, I’ll try and do the best that I can.

 

There are 4 types of accounts at the Woogi Vault:

Some accounts cost more than others to open, but they
have a higher interest rate, which means that you’ll get
more interest every day with those accounts.

 

Most Woogies start by opening a Bronze Account.
I’ll show how interest is calculated using that account type.

The interest rate on a Bronze Account is 1%.
1% is equal to 1/100, or 1 watt for every 100 watts.

10,000 watts x 1% = 100 watts

So if a Woogi has 10,000 watts saved in their Bronze Account,
they will earn 1% interest every day, or 100 watts a day.

 

When you open a more expensive savings account, like
the Gold Account, you’ll start earning more interest.

The interest rate on a Gold Account is 3%.
3% is equal to 3/100, or 3 watts for every 100 watts.

10,000 watts x 3% = 300 watts

So if a Woogi has 10,000 watts saved in their Gold Account, they
will earn 3% interest every day, which equals 300 watts a day.

 

Just remember to return to the Woogi Vault
and transfer your interest every day!

 

If you don’t transfer your interest every day,
Mr. Wigwatts will see to it that all those watts
end up in his personal bank account instead!

 

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So, Earth Agents...

 

- Did this help you to understand interest better?

- What type of savings account do you have at the Woogi Vault?

- Do you remember to transfer your interest every day?

 

Write a blog Comment and let’s chat more about the Woogi Vault!

 

Until next time, Earth Agents!