56.1k views
3 votes
Match each savings type to its characteristic. Which savings option offers the lowest interest rate? Which savings option offers the highest interest rate?

1) Certificate of Deposit
2) Money Market Account
3) Basic Savings Account

1 Answer

1 vote

Final answer:

The Basic Savings Account offers the lowest interest rate, while the Certificate of Deposit (CD) offers the highest interest rate.

Step-by-step explanation:

The savings option that offers the lowest interest rate is the Basic Savings Account. This type of account typically pays a lower interest rate compared to other savings options.

The savings option that offers the highest interest rate is the Certificate of Deposit (CD). With a CD, you agree to deposit a certain amount of money for a specified period of time and in exchange, the bank offers a higher interest rate compared to a regular savings account.

Therefore, the Basic Savings Account offers the lowest interest rate, while the Certificate of Deposit (CD) offers the highest interest rate.

User Sam Mackrill
by
8.3k points