Anthony is deciding between different savings accounts at his bank. He has four options, based on how frequently interest compounds. Which should he choose if he wants the best rate of return on his interest?

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	Annual Compounding
B	Semi-Annual Compounding
C	Monthly Compounding
D	Daily Compounding

Explanation:

Detailed explanation-1: -The options include traditional savings accounts, high-yield savings accounts, money market accounts, certificates of deposit, cash management accounts and specialty savings accounts.

Detailed explanation-2: -As you shop around, know that most banks offer a variety of different savings products, including brick-and-mortar savings accounts, high-yield savings accounts, certificates of deposits (CDs) and money market accounts (MMAs).

Detailed explanation-3: -CDs (certificates of deposit) are a type of savings account with a fixed rate and term, and usually have higher interest rates than regular savings accounts. CDs (certificates of deposit) are a type of savings account with a fixed rate and term, and usually have higher interest rates than regular savings accounts.

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