Question

types of accounts
decide which account is best for each person.
becky wants an account that will let her spend her money as much and as often as she needs.
sanjay wants an account that will earn interest but still let him make withdrawals.
neveah has some money she wants to save until she goes to college in two years. she wants an account that will earn a little more interest.

Explanation:

1. For Becky, a checking account offers unlimited, frequent access for daily spending with no restrictions on withdrawals or purchases.
2. For Sanjay, a savings account earns interest on deposits while allowing occasional withdrawals (unlike a time-locked account).
3. For Neveah, a certificate of deposit (CD) with a 2-year term earns higher interest than a standard savings account, and the fixed timeline matches her college goal.

Answer:

• Becky: Checking Account
• Sanjay: Savings Account
• Neveah: 2-Year Certificate of Deposit (CD)