Question

Sally recently received a gift of $10,000 from her aunt to be used for her college education. Since college is almost a year away, Sally should probably put her gift into a

Answer 1

Sally should put her gift into a bank account. Bank accounts are much safer than a random place under your bed or in your shoes. Bank accounts also offer many benefits. (if you would like to learn more let me know thanks, have a great day)

-Agarvated

Answer 2

Answer:

Sally should put her gift into a certificate of deposit (CD).

Explanation:

A certificate of deposit (CD) is a financial product offered by banks in which the customers deposit the money for a fixed term that can be for example, one year after which the customers can withdraw the money and the interest paid by the bank. This is a good option for Sally because she won't have the risk of losing her money, she won't be able to take it out before the term ends which avoids that she will spend it in something else and she will receive an interest rate that is higher than the one the banks offer for savings accounts.