Question

Lionel needs money quite frequently and doesn't need much interest at all. Which of these options for saving money is best for him?
A. savings bond


B. money market account


C. certificate of deposit


D. savings account

Answer 1

Answer:

Option D is the correct answer.

Step-by-step explanation:

The saving bonds are a good way to earn money but they work at fixed rate of interest over a set time period.

Money market accounts give a limited access to account and not more than three checks are written in a month. Its a type of short term savings.

The certificate of deposit or CD's have higher interest rate than savings account. But one cannot withdraw the money before the term maturity otherwise penalty is to be paid.

Savings account are deposit accounts that can be accessed whenever needed. These yield less interest as compared to money market accounts or CD's.

Therefore, the best option for Lionel to choose will be Savings account

Answer 2

Answer: Savings account - Apex