Question

Tamara has $500 she is looking to save for a class trip. She wants to earn the most possible interest and will not need access to her money for a full year. Which type of savings account will be best for Tamara?

Answer 1

Answer:

Certificate of deposit

Explanation:

A certificate of deposit is a type of savings account that has a fixed date in which the money can be withdrawn and it offers a higher interest rate than a regular savings account in which you have access to your money at any time. According to this, the answer is that the type of savings account that will be best for Tamara is a certificate of deposit because it pays a higher interest rate than standard savings accounts and she doesn't need the money for a year.

Answer 2

Certificate Of Deposit- It will be unaccesible and will help her the best.