ECONOMICS
SAVING AND INVESTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Savings account, money market deposit account, certificate of deposit, interest-earning checking account and savings bond
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Money market deposit account, savings account, interest-earning checking account, credit card account and savings bond.
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Stocks, mutual funds, money market deposit account, real estate and junk bonds account, and certificate of deposit.
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Interest-earning checking account, money market deposit account, mutual fund, credit card
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Detailed explanation-1: -The five most common types of savings tools are checking accounts, savings accounts, money market deposit accounts, certificates of deposit, and savings bonds. It is important to determine which savings tools are appropriate to assist in the attainment of personal financial goals.
Detailed explanation-2: -Savings comprise the amount of money left over after spending. People may save for various life goals or aspirations such as retirement, a child’s college education, the down payment for a home or car, a vacation, or several other examples. Savings may commonly be earmarked for emergencies.
Detailed explanation-3: -Regular Savings Account. Zero Balance or Basic Savings Account. Women’s Savings Account. Kids’ Savings Account. Senior Citizens’ Savings Account. Family Savings Account. Salary Account – Salary Based Savings Account.
Detailed explanation-4: -Brick-and-mortar savings accounts. Brick-and-mortar savings accounts are the traditional savings accounts offered by large national banks. High-yield savings accounts. Certificates of deposits. Money market accounts.