Question

Which of the following is the best decision to allocate savings to a productive

Answer 1

The best decision to allocate savings to a productive  use is: C. Option B because the account will accumulate interest over time.

One of the benefit or advantage of a savings account is that it help to accumulate interest  based on the amount that was deposited into the account.

With Savings account you can earn interest and can easily have access to you money incase of unforeseen circumstance or during rainy days.

Instead of depositing money into your checking account were you can likely earn  low interest as savings account has higher interest rate, it is better to put your savings into productive use by saving  your money into your saving account so as to accumulate interest over time.

Inconclusion the best decision to allocate savings to a productive  use is: C. Option B because the account will accumulate interest over time.

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