Step-by-step explanation:
There are depository institutions that deposit the money which people save and want to secure. Such accounts are called the saving tools. There are four types of saving tools that include Saving Accounts, Money Market Deposit Accounts, Checking Accounts and Certificates of Deposits. Every account is used to secure money which people saved for themselves. Saving Accounts and Certificates of Deposits are commonly popular among people. People deposit their saved amounts and can enjoy a pretty amount of interest on their saved money while keeping their principal amount secure.