Answered

which of the following accurately describes savings accounts ?

Athey learn compound interest.
Bthey provide greater returns on investment that investment portfolios.
Cthey are riskier than investment portfolios.
Dthere are penalties for early withdrawal.

Verified Answer :

the answer is c.) because it is talking about savings account s

amniotecardamom

Answer:

D. there are penalties for early withdrawal.

Explanation:

The savings account is one of the safest applications, but the profitability is very low and the interest applied is simple interest. The savings income is calculated once a month on the smallest balance in the account. This penalizes withdrawals. For example, if your account had $ 1000 for 29 days, but on the 30th day you took $ 500, interest every month will be calculated at $ 500, not the pro-rated amount.

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