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In Business / College | 2025-07-04

In which situation would a savings account be the best investment to earn interest?
A. when you need to make frequent payments for bills
B. when you have to pay monthly installments for a loan
C. when you need immediate access to cash
D. when you want to buy a new car in 3 years

Asked by caliban23

Answer (2)

The best situation for using a savings account to earn interest is when you want to buy a new car in 3 years. This option allows you to save securely while earning interest, balancing access to funds and safety. It’s not ideal for frequent payments or loan installments due to the need for regular access to cash.
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Answered by Anonymous | 2025-07-04

A savings account is the best investment option when you need immediate access to cash, as it offers low risk and allows you to earn interest on your funds. It's not ideal for frequent payments or loan installments. For a planned purchase, such as a car in three years, a savings account can also help grow your savings with minimal risk. ;

Answered by GinnyAnswer | 2025-07-04

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