a person has $3000 to deposit in a financial institution. assuming all options were offered by the same…

a person has $3000 to deposit in a financial institution. assuming all options were offered by the same institution, which account is likely to have the lowest interest rate or pay no interest at all?\no savings account\no checking account\no money market account\no three - year certificate of deposit\n\na person has $3000 to deposit in a financial institution. assuming all options were offered by the same institution, which account is likely to pay the highest interest rate?\no savings account\no checking account\no money market account\no three - year certificate of deposit

a person has $3000 to deposit in a financial institution. assuming all options were offered by the same institution, which account is likely to have the lowest interest rate or pay no interest at all?\no savings account\no checking account\no money market account\no three - year certificate of deposit\n\na person has $3000 to deposit in a financial institution. assuming all options were offered by the same institution, which account is likely to pay the highest interest rate?\no savings account\no checking account\no money market account\no three - year certificate of deposit

Answer

Brief Explanations:

Checking accounts are mainly for daily transactions and usually have low or no - interest rates. Certificates of deposit (CDs) typically offer higher interest rates as they require money to be deposited for a fixed term, sacrificing liquidity. Savings accounts and money market accounts usually have moderate interest rates compared to CDs.

Answer:

  1. B. checking account
  2. D. three - year certificate of deposit