Question

Cory just started his first job and does not have much money saved. Each month he needs to pay his rent and make payments on his car. What kind of bank account would be most appropriate for him at this point? Select the best answer from the choices provided. a.checking account b.savings account c.money market account d.certificate of deposit

Answer 1

Given that Cory does not have much money saved he will be using her regular incomes to pay his rent and car, so the most appropiate bank account is a checking account.

That will let him to deposit his incomes and make the payments with checks.

It does not make sense opening an account that pays interests because the money will be spent promptly.

Answer: option a. checking account.