4.03 part 1

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Savings Options:

Savings Options Principles of Business Objective 4.03

Different Types of Savings Options:

Different Types of Savings Options Savings accounts Certificate of Deposit Money Market Accounts

Savings Accounts:

Savings Accounts A savings account usually allows: low or zero balance deposit or withdrawals anytime interest to be earned. Usually withdrawals are allowed without penalties. These accounts earn interest while keeping your money safe.

Certificate of Deposit (CDs):

Certificate of Deposit (CDs) Allows you to earn a higher interest rate than a regular savings account. Certificates of deposits (CDs) requires: a minimum deposit money to remain deposited for a period of time without penalties. Penalties may be assessed (applied) if money is withdrawn before specified time.

Money Market Accounts:

Money Market Accounts Money market account requires: a minimum deposit interest is earned based on government and corporate securities. Usually withdrawals are allowed without penalties.

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