question 8 / 10 which interest - bearing account is best for people who wont need access to their money for…

question 8 / 10 which interest - bearing account is best for people who wont need access to their money for several months or longer? a. credit card b. checking account c. certificate of deposit d. savings account

question 8 / 10 which interest - bearing account is best for people who wont need access to their money for several months or longer? a. credit card b. checking account c. certificate of deposit d. savings account

Answer

Brief Explanations:

A credit - card is for borrowing money, not saving. A checking account is for day - to - day transactions and usually has low or no interest. A savings account allows easy access to money. A certificate of deposit (CD) requires money to be deposited for a fixed term (months or years) and offers higher interest rates for the commitment of not accessing the funds early.

Answer:

C. Certificate of Deposit