BUSINESS ADMINISTRATION
BANKING AND INSURANCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Detailed explanation-1: -Some that are considered the safest also generate the least interest (or returns). The investment type that typically carries the least risk is a savings account. CDs, bonds, and money market accounts could be grouped in as the least risky investment types around.
Detailed explanation-2: -Three major examples of savings vehicles are savings accounts, money market accounts (MMAs) and certificates of deposit (CDs). They all have their own benefits and restrictions and knowing the details of each can help you choose what’s right for you.
Detailed explanation-3: -Investment-Setting aside money for future income, benefit, or profit to meet long-term goal; using savings to earn a financial return.
Detailed explanation-4: -The 3 common savings account types are regular deposit, money market, and CDs. Each one works a little different regarding accessibility and amount of interest. Besides these accounts, there are other savings options too. It can get confusing to know which one is best for your needs.