in which situation would a savings account be the best investment to earn interest? when you need to make…

in which situation would a savings account be the best investment to earn interest? when you need to make frequent payments for bills when you have to pay monthly installments for a loan when you need immediate access to cash when you want to buy a new car in 3 years

in which situation would a savings account be the best investment to earn interest? when you need to make frequent payments for bills when you have to pay monthly installments for a loan when you need immediate access to cash when you want to buy a new car in 3 years

Answer

Brief Explanations:

A savings account is good for long - term goals with no immediate need for cash. Making frequent payments for bills or loan installments or needing immediate access to cash is not ideal for a savings account as it may have withdrawal restrictions or low liquidity for such uses. Saving for a new car in 3 years is a long - term goal where a savings account can earn interest over time.

Answer:

when you want to buy a new car in 3 years