BUSINESS ADMINISTRATION
FINANCIAL MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A bank account where you can store money you don’t need right away but keep it easily available and safe. You usually earn interest on this type of account.
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Checking Account
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FICO score
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Credit
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Savings account
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Explanation:
Detailed explanation-1: -Regular savings account The most common savings account is a traditional savings account at a bank or credit union.
Detailed explanation-2: -A savings account is a basic type of financial product that allows you to deposit your money and typically earn a modest amount of interest. These accounts are federally insured up to $250, 000 per account owner and offer a safe place to put your money while earning interest.
Detailed explanation-3: -Certificate of Deposit (CD) You cannot touch your money during that term. A term can range anywhere from three months to five years (60 months). In return for not having access to your money, you earn a higher interest rate than you would with just a savings account.
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