You have $3,000 that you may need to use to replace the furnace in your home.If you need the funds,it would be on no less than a week's notice.Into which type of account would it be best for you to deposit the $3,000?

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Quizplus · Accepted Answer

The best choice would be to deposit the $3,000 into a savings account. A savings account provides a safe place to store your money while earning interest. Since you may need to use the funds on a week's notice, a checking account or NOW account may be more accessible, but they typically have lower interest rates than savings accounts. However, if you prefer easier access to your funds, a NOW account may be a better choice since it offers check writing capabilities in addition to earning interest.

You Have $3,000 That You May Need to Use to Replace