Final answer:
For a higher interest rate with few monthly transactions, a Certificate of Deposit (CD) or a money market account would be the best choice, as checking accounts offer lower interest and savings accounts have withdrawal restrictions.
Step-by-step explanation:
If you desire a higher interest rate and only need to conduct a few transactions per month, the type of account you should choose is a Certificate of Deposit (CD) or a money market account. A checking account is convenient for frequent transactions but typically pays little to no interest. A savings account usually offers some interest and allows for electronic access to funds, but could include withdrawal limits. However, a CD often offers the highest interest rate in exchange for leaving your money deposited for a set period, with a penalty for early withdrawal. Money market accounts can also offer higher interest rates and may allow for limited check-writing abilities.