Final answer:
Savings accounts and money-market accounts are ideal for individuals who want to save money and earn interest. Savings accounts are best for short-term goals, while money-market accounts are suitable for those with larger sums of money.
Step-by-step explanation:
Savings accounts and money-market accounts are most appropriate for individuals who want to save and earn interest on their money. Both types of accounts provide a safe place to store funds while also allowing for some level of growth through interest.
Savings accounts are typically offered by banks and credit unions and are ideal for short-term savings goals. These accounts generally have low or no minimum balance requirements and offer a modest interest rate that can help your money grow over time.
Money-market accounts, on the other hand, are a type of high-yield savings account that usually require a higher minimum balance. They offer a higher interest rate but may have some restrictions on withdrawals. These accounts are suitable for individuals who want to save larger sums of money and earn a higher return.
Learn more about Savings accounts and money-market accounts