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______ provides a safe place to store money but normally generates the lowest interest income of any account.

A) Savings Account
B) Certificate of Deposit (CD)
C) Money Market Account
D) Checking Account

1 Answer

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Final answer:

A Checking Account (D) provides a safe place to store funds and very easy access to them, but it normally generates the lowest interest income compared to other types of bank accounts.

Step-by-step explanation:

The account type that provides a safe place to store money but normally generates the lowest interest income of any account is the Checking Account (D). A checking account typically pays little to no interest but offers easy access to funds through writing checks or using a debit card. In contrast, a Certificate of Deposit (CD) requires money to be deposited for a set period of time and offers higher interest rates. However, there is a penalty for early withdrawal of funds from a CD. Money Market Accounts typically offer higher interest rates than checking accounts and come with check-writing privileges, although they may have higher minimum balance requirements. Lastly, Savings Accounts offer interest on the deposits and are designed for saving money over the long term with some restrictions on withdrawals.

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