savings accounts typically offer more interest than what type of account? retirement account money market…

savings accounts typically offer more interest than what type of account? retirement account money market account checking account certificate of deposit (cd) which type of bank account is best for everyday transactions? checking account savings account money market account certificate of deposit a savings account that compounds interest - daily will earn a higher return than a savings account that pays simple interest daily. true false

savings accounts typically offer more interest than what type of account? retirement account money market account checking account certificate of deposit (cd) which type of bank account is best for everyday transactions? checking account savings account money market account certificate of deposit a savings account that compounds interest - daily will earn a higher return than a savings account that pays simple interest daily. true false

Answer

Answer:

  1. C. checking account
  2. A. checking account
  3. A. TRUE

Brief Explanations:

  1. Savings accounts generally offer more interest than checking accounts as checking accounts prioritize liquidity for frequent transactions.
  2. Checking accounts are designed for everyday transactions like paying bills and making purchases due to easy access and frequent - use features.
  3. A savings account with daily compounding interest earns interest on both the principal and previously - earned interest, resulting in a higher return over time compared to simple interest which is only calculated on the principal amount.