Which two options can be considered types of savings accounts? A. High-yield savings account
B. Certificate of deposit (CD)
C. Mutual funds
D. Checking account
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Which two options can be considered types of savings accounts? A. High-yield savings account
B. Certificate of deposit (CD)
C. Mutual funds
D. Checking account
The correct answers are A. High-yield savings account and B. Certificate of deposit (CD).
Explanation:
– A high-yield savings account typically offers a higher interest rate compared to a regular savings account, making it a popular choice for saving.
– A certificate of deposit (CD) is a time deposit where you agree to keep your money in the account for a fixed period in exchange for higher interest rates.
Mutual funds (C) and checking accounts (D) are not classified as savings accounts. If you have any more questions or need further explanation, feel free to ask!