<u>A savings account keeps her savings separate from her spending money is the answer.
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<u>A savings account keeps her savings separate from her spending money will be the best reason for Jacinta to have a savings account in addition to a checking account.
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Further explanation:
Savings account:
A savings account is an account in which an amount of money is being deposited with the bank and a certain interest rate is being credited to the account every month.
Justification for the correct and incorrect answer:
A savings account protects her money from overdraft fees: This option is incorrect.
A savings account does not protect money from overdraft fees. As overdraft fees are those charges which are being paid for withdrawn amount exceeding the balance available in the savings account.
A savings account ensures her money under the FDIC:This option is incorrect.
A savings account only saves the money and the bank provides the interest rate accordingly. Federal deposit insurance corporation (FDIC) is an independent agency and if the bank is secured under this, then only it protects from the loss.
A savings account guards her money against inflation: This option is incorrect.
A savings account saves the money of the saver or the account holder. It does not protect or guard money against inflation.
A savings account keeps her savings separate from her spending money: This option is correct.
A savings account keeps her savings separate from her spending money because savings account will save the money which has been deposited and spending amount will be known from her checking account. This will help in money management or better saving of the money.
<u>Thus, a savings account keeps her savings separate from her spending money will be the best reason for Jacinta to have a savings account in addition to a checking account.
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Learn more:
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Answer details:
Grade: High School
Subject: Business
Chapter: Money and Banking
Keywords: What is the best reason for Jacinta to have a savings account in addition to a checking account, a savings account protects her money from overdraft fees, a savings account ensures her money under the FDIC, a savings account guards her money against inflation, a savings account keeps her savings separate from her spending money
