research and compare the different types of savings accounts.

Instructions:

Saving money is essential if you want financial security and success, but unless you're earning interest, you're not making the most of what you sock away. Some people are not sure where to stash their savings for emergencies or a vacation. Money market accounts, savings accounts, and certificates of deposit (CDs) can give your savings a boost by earning interest, all while keeping your money safe.  Read the article at the bank rate website to learn more about the differences between these types of savings options and answer the questions below.

Questions
Traditional Savings Accounts:

• Describe this account:
• Does it typically have an interest rate?
• Does it Typically have a Minimum Balance?
• Can you add to the balance regularly?
• Is it FDIC Insured?
• Can you write checks/pay bills directly from this account?
• Is money stuck for a set time?

Certificate of Deposit (CD):

• Describe this account:
• Does it typically have an interest rate?
• Does it Typically have a Minimum Balance?
• Can you add to the balance regularly?
• Is it FDIC Insured?
• Can you write checks/pay bills directly from this account?
• Is money stuck for a set time?

Money Market Account:

• Describe this account:
• Does it typically have an interest rate?
• Does it Typically have a Minimum Balance?
• Can you add to the balance regularly?
• Is it FDIC Insured?'
• Can you write checks/pay bills directly from this account?
• Is money stuck for a set time?

Answer rating: 100% (QA)

Traditional Savings Accounts Description Traditional savings accounts are basic accounts offered by banks or credit unions where individuals can deposit money for safekeeping and earn interest on thei... View the full answer