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Ber [7]
2 years ago
12

Cindy has been working for 8 years, and she’s built up a huge emergency fund -- $45,000, which would be 6 months of her salary.

She’s hoping to earn a bit more interest than she currently is with that $45,000 just sitting in her traditional bank’s savings account. Which account would you recommend? Why?
SAVINGS ACCOUNT, CD, MONEY MARKET ACCOUNT
Business
1 answer:
SIZIF [17.4K]2 years ago
3 0

I will recommend she invest the $45,000 in Certificate of deposit or Money market account.

It is widely known that a traditional bank’s savings account does not provides significant interest rate for deposit unlike other account which are meant from pure investment at long term.

A certificate of deposit are issued by bank to customer promising them a certain interest rate on their deposit with them.

A money market is also an method of investing in short term market and guarantees high interest rate on deposit.

Therefore, I will recommend she invest the $45,000 in Certificate of deposit or Money market account.

Learn more about this here

<em>brainly.com/question/18050668</em>

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