A savings account is also known as which of the following?

Question

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A savings account is known as a time deposit because the depositor agrees to keep the money in the account for a certain period of time and earns interest on it. Choice B, a demand deposit, refers to a type of checking account where funds can be withdrawn on demand. Choice C, a marketable security, refers to a type of investment such as stocks or bonds. Choice D, a storage deposit, is not a commonly used term in banking.

A Savings Account Is Also Known as Which of the Following