Mandy has $2,000,with which she would like to start a savings program.She will add to it regularly by investing $50 per month in a liquid account.Which of the following types of accounts would be most appropriate in this situation?

Question

Quizplus · Accepted Answer

A money market deposit account would be the most appropriate choice as it offers a higher interest rate compared to a traditional savings account and allows for easy access to funds in case Mandy needs to make withdrawals. The other options, such as Series EE U.S. savings bonds, certificates of deposit, U.S. Treasury bills, and NOW accounts all have restrictions on when Mandy can access her funds or offer lower interest rates.

Mandy Has $2,000,with Which She Would Like to Start a Savings