Mathematics, 04.03.2021 08:00 FailingstudentXD
Use the table below showing the different types of savings accounts a bank offers to answer the question that follows.
Standard Savings Money Market Savings High Yield Savings CD
Opening Deposit Requirement $25 $100 $25,000 $2,500
Interest Rate Variable Variable Variable Fixed
Option to Write Checks yes yes
Account Alerts yes yes yes yes
Features Up to 6 withdrawals per month Up to 3 withdrawals per month Up to 3 withdrawals per month Penalty if money withdrawn before maturity
Monthly Fee $3 per month unless you maintain a $300 balance $10 per month unless you maintain a $3,500 balance $25 per month unless you maintain a $25,000 balance none
Christina has $150 to open a savings account. She anticipates withdrawing money from her savings account regularly. Which account is the best choice for Christina? (4 points)
Standard Savings
Money Market Savings
High Yield Savings
CD
Answers: 3
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