Question

Jorge has $300 for work he performed. He expects to spend the money in the next few weeks to buy a new bike. Which type of account will be best for Jorge?

A. Savings Account
B. Money Market Account
C. Checking Account
0. DCertificate of Deposit (CD)

Answer 1

C

Step-by-step explanation:

Eliminate anything that is long range.

A. is meant to build up capital

B. is sort of an investment account. You'll likely leave money in there.

C. I'd use this. Fast in, fast out.

D. I'm not sure of this. We don't have them in Canada. But it sounds long term to me so I wouldn't use it.