Definition: This is the name to a type of bank account used by a person who wants to safely store their money over a long period

Question

Naddika [18.5K]

4 years ago

10

Definition: This is the name to a type of bank account used by a person who wants to safely store their money over a long period

of time, earning interest during that process.

Social Studies

2 answers:

Gnoma [55] · Answer 1 · 2021-12-08T13:48:36+03:00

Answer:

Savings

Explanation:

The amount of saving you put in a bank is considered as Safe because it's insured by the Federal Deposit Insurance Corporation. Meaning that if your money is gone from the bank because of natural disasters or robbery, The Federal Deposit Insurance Corporation will replenish that lost amount for you.

Saving account does earn you interest, but it's very little compared to other types of investment accounts. On average, the interest that bank provides for saving account is only around 0.09% per year.

klasskru [66] · Answer 2 · 2021-12-08T15:56:57+03:00

klasskru [66]4 years ago

7 0

Answer:

savings

Explanation: