Malcolm wants to make a deposit into an account that earns interest.He wants to be able to access the money on a limited basis.What type of account should he NOT consider?

Question

Quizplus · Accepted Answer

A certificate of deposit (CD) typically locks in the deposited funds for a specific period of time, during which the account holder cannot access the money without incurring a penalty. Therefore, it is not a suitable option for Malcolm who wants limited access to his money. The other options, such as money market accounts, statement savings accounts, and regular savings accounts may offer limited access and/or earn interest, so they may be worth considering depending on specific features and requirements.

Malcolm Wants to Make a Deposit into an Account That