Question

Sofia has saved $10,000. She wants to be sure that she is earning interest on her money and can add to her savings. She also wants to be able to access her money if the need should arise.
Which type of account is most suitable for Sofia’s needs?


a money market account

a certificate of deposit

a savings bond

a savings account

Answer 1

Answer:

a money market account:)

Explanation:

Answer 2

A money market account is the type of account is most suitable for Sofia’s needs.

A money market account earns interest on the money that is deposited at a higher rate than a normal savings account. Even though this is not a common savings account, the account holder is able to write checks from the account if the money needs to be accessed. A money market account is a 'best of both worlds' account because the holder can benefit like a savings and checking account would allow (with some restrictions).