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Anonymous

Feb 12, 2025

Tamara has $500 she is looking to save for a class trip. she wants to earn the most possible interest and will not need access to

Tamara has $500 that she wants to save for a class trip. She aims to earn the highest possible interest and will not need access to her money for a full year. Which type of savings account would be best for Tamara? A) Certificate of Deposit (CD) B) Money Market Account C) Savings Account D) Checking Account

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4 Answers

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Anonymous

Dec 15, 2024

The best one for her is Money market account. The reason for that is Money market deposit accounts tend to have higher minimum balance requirements than regular or online savings accounts. This minimum usually ranges from $100 to $2,500. There may be a monthly fee associated with this type of savings account, and there is a federally imposed limit to how many withdrawals you can make per month. Money market accounts are likely to have check-writing privileges.
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finance Savings Accounts Interest Rates

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