Question

match the following types of bank accounts with their key features. fixed interest rates, early withdrawal penalties, various term lengths. interest rates, typically unlimited transactions, no debit card. designed for everyday transactions, no transaction limits, debit cards, online bill pay, overdraft protection. competitive interest rates, transactions limited to 6 times per month, check writing privileges. 1. checking account 2. savings account 3. money market account 4. certificates of deposit (cds)

Explanation:

1. Checking accounts are for daily use with features like no transaction limits, debit cards, online bill - pay, and overdraft protection.
2. Savings accounts usually have interest rates and are for saving money, but the description of no debit card is incorrect for most modern savings accounts. However, based on the given options, this description best fits savings account among the choices.
3. Certificates of Deposit (CDs) have fixed interest rates, early - withdrawal penalties, and various term lengths.
4. Money Market Accounts offer competitive interest rates, limit transactions to 6 times per month, and have check - writing privileges.

Answer:

1. Checking Account: Designed for everyday transactions, no transaction limits, debit cards, online bill pay, overdraft protection.
2. Savings Account: Interest rates, typically unlimited transactions, no debit card.
3. Certificates of Deposit (CDs): Fixed interest rates, early withdrawal penalties, various term lengths.
4. Money Market Account: Competitive interest rates, transactions limited to 6 times per month, check writing privileges.