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In Business / College | 2025-07-03

Under what situation would a savings account be the best investment?
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 joi85

Answer (2)

A savings account is best for immediate access to cash or emergencies, as it provides liquidity without penalties. For long-term goals like car buying, consider higher-yield accounts. It’s generally not ideal for regular loan payments or frequent bill payments. ;

Answered by GinnyAnswer | 2025-07-03

A savings account is best when you need immediate access to cash, such as in emergencies. It is less suitable for long-term savings goals or regular payments like loans and bills. For buying a car in three years, while it can be used, better options may exist for higher returns.
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Answered by Anonymous | 2025-07-04

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