Question

Decide which account is best for each person. Becky wants an account that will let her spend her money as much and as often as she needs.blank Sanjay wants an account that will earn interest but still let him make withdrawals.blank Neveah has some money she wants to save until she goes to college in two years. She wants an account that will earn a little more interest.blank

Answer 1

Becky wants an account that will let her spend her money as much and as often as she needs. Checking Account

A checking account allows a person to make as many withdrawals as may be necessary. They may or may not earn some interest on the balance.

Sanjay wants an account that will earn interest but still let him make withdrawals. Interest (Dividend) Checking Accounts.

Interest (Dividend) Checking Accounts offer combined features of a checking account and a savings account. The interest rate on the balance is higher than a regular checking accounts, but an individual can withdraw money without any penalties. This account requires that an individual maintain a higher minimum balance.

Neveah has some money she wants to save until she goes to college in two years. She wants an account that will earn a little more interest. Savings Accounts.

Savings Accounts are interest bearing accounts and designed to encourage savings. Hence, withdrawals from such accounts may not be possible until a certain pre-agreed withdrawal date. Withdrawals before the pre-agreed date attract a large amount of penalty. Such accounts are usually used to build wealth.

Answer 2

checking , savings , cd