Question

match the type of account to its description.
savings account
checking account
money market account
certificate of deposit
has a term length that you choose and commit to. no withdrawals allowed without penalty
gives a better interest rate based on how much you have in the account.
meant for rainy day or emergency funds that you can access when you need to.
used for daily transactions and purchases.

Explanation:

To solve this, we analyze each account type and its typical features:

Savings Account

• Purpose: For "rainy day" or emergency funds (accessible when needed).
• Match: "Meant for 'Rainy day' or emergency funds that you can access when you need to."

Checking Account

• Purpose: Daily transactions (purchases, payments).
• Match: "Used for daily transactions and purchases."

Money Market Account

• Feature: Better interest based on balance.
• Match: "Gives a better interest rate based on how much you have in the account."

Certificate of Deposit (CD)

• Feature: Fixed term (commit to length), no penalty-free withdrawals.
• Match: "Has a term length that you choose and commit to. No withdrawals allowed without penalty."

Answer:

• Savings Account: Meant for "Rainy day" or emergency funds that you can access when you need to.
• Checking Account: Used for daily transactions and purchases.
• Money Market Account: Gives a better interest rate based on how much you have in the account.
• Certificate of Deposit: Has a term length that you choose and commit to. No withdrawals allowed without penalty.