Problemas
Keira is new to earning money and saving. She doesn't have a lot of money to open an account.Which savings option would be best for her? Select a response. Savings Account Money Market Account (MMA) Certificate of Deposit (CD) C Checking Account
Roztwór
Genoveva
élite · Tutor durante 8 años
4
(223 Votos)
Respuesta
The best savings option for Keira is 'A', the Savings Account.
Explicación
## Step 1The problem is asking us to identify the best savings option for Keira, who is new to earning money and saving and doesn't have a lot of money to open an account. The options provided are Savings Account, Money Market Account (MMA), Certificate of Deposit (CD), and Checking Account.## Step 2Let's analyze each option:### Savings AccountThis is a basic account where you can deposit money and earn interest. It's suitable for beginners as it requires a low minimum deposit and has no restrictions on withdrawals.### Money Market Account (MMA)This account offers higher interest rates than a regular savings account but requires a higher minimum deposit and may have restrictions on the number of transactions.### Certificate of Deposit (CD)This is a time deposit where you agree to leave a lump sum of money for a set period of time, such as six months, one year, or five years. It offers higher interest rates than a savings account but requires a higher minimum deposit and has penalties for early withdrawal.### Checking AccountThis account is designed for daily transactions and does not typically earn interest. It's not suitable for saving as it encourages spending.## Step 3Considering Keira's situation, the Savings Account is the best option as it requires a low minimum deposit and has no restrictions on withdrawals, making it suitable for someone who is new to saving money.