Question

(02.03 MC) Bernadette wants to set aside some money, but she wants to have easy access to it without penalty. She is not worried about earning a large amount of interest. Which of the following investments best suits her needs? Certificate of deposit Government bond Money market account Traditional savings account

Answer 1

Answer:

Traditional savings account

Explanation:

A Traditional savings account is a banks or other financial institution's interest-bearing deposit fund.

While these accounts usually pay a moderate rate of interest, their stability and efficiency make them a decent option for short-term saving cash that you want.

Traditional savings accounts have some constraints on how many times one can withdraw money, however they usually offer outstanding versatility that is suitable for developing an emergency savings, or merely sweeping excess cash that you don't need in your checking account so you can earn more interest somewhere else.