Which of the following statements about savings accounts is false

Asked by admin @ in History viewed by 306 People

Which of the following statements about savings

accounts is FALSE?
Savings accounts may require you to maintain a
minimum balance to avoid paying a fee.
Savings accounts are best used to store money for
longer-term goals.
Savings accounts limit the number of withdrawals
that can be made each month.
Savings accounts don't usually pay interest on the
money you deposit.

Answered by admin @


Answer:

The statement about savings accounts that is FALSE is Savings accounts don't usually pay interest on the money you deposit.

Explanation:

Savings accounts have different interest rate, then any client from any bank by keeping the money in their account without withdrawing any from it can make their money grow, which is a kind of inversion that people can do, it does not give a big profit but at the end it is better to keep it there and make it grow that just keep it elsewhere.


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