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a person has 3000 to deposit in a financial institution. assuming all options were offered by the same institution, which account is

Question

A person has 3000 to deposit in a financial institution. Assuming all options were offered by the same institution, which account is likely to have the lowest interest rate or pay no interest at all? savings account checking account money market account three-year certificate of deposit

Answer

4.2 (176 Votes)
Verificación de expertos
Elliot Elite · Tutor for 8 years

Answer

### Checking account

Explanation

## Step1: Identify account types and their typical interest rates### Understand the interest rate characteristics of each account type: savings account, checking account, money market account, and three-year certificate of deposit.## Step2: Compare and contrast interest rates ### Checking accounts usually have the lowest interest rates or no interest at all.