Question

Savings accounts and moneymarket accounts are most appropriate for:

Earning a high rate of return
Emergency funds and shortterm goals
Savings accounts and moneymarket accounts should be avoided since they carry high risk
O Longterm investments like retirement

Answer 1

Savings accounts and money market accounts are suitable for emergency funds and short-term goals. They are not meant for earning high returns or as long-term investments like retirement.

Step-by-step explanation:

Savings accounts and money market accounts are most appropriate for emergency funds and short-term goals. These types of accounts offer safety and liquidity, meaning that you can easily access your money when you need it. They are not designed for earning a high rate of return, but rather for preserving and protecting your money. For long-term investments like retirement, other options such as stocks, bonds, and mutual funds might be more suitable as they have the potential for higher returns over a longer period of time.

Learn more about Savings accounts and money market accounts