Juan saved $1,000 from his summer job cleaning pools. Which of these savings vehicles would work best for him if he doesn't need access to the money for a number of years AND wanted to earn the highest interest rate?

Question:

Juan saved $1 000 from his summer job cleaning pools. Which of these savings vehicles would work best for him if he doesn't need access to the money for a number of years AND wanted to earn the highest interest rate?

a.Money Market account

b.Certificate of Deposit

c.Regular savings account

d.Checking account

Certificate of deposit.

Step-by-step explanation:

A certificate of deposit is a scheme that provides a very high interest rate when a particular sum is left in an account without being touched for an agreed number of years.

The certificate of deposit scheme would work best for him because in this scheme, the bank offers a high interest rate, when a particular amount is left in the account for a stipulated number of years.

The interest rate here is higher than the interest rates on normal savings deposit account.

In this case, Juan saved $1,000 from his summer cleaning job, since he doesn't need access to the money for a number of years and he also wanted to earn the highest interest rate, the savings vehicles that satisfies all these conditions is the certificate of deposits.

none.

step-by-step explanation:

m

1

=

5

m1=5

b

=

−

1

b=-1

find the slope and y-intercept of the second equation.

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m

2

=

0

m2=0

b

=

−

6

b=-6

compare the slopes

m

m of the two equations.

m

1

=

5

,

m

2

=

0

m1=5,m2=0

compare the two slopes in the decimal form. if the slopes are equal, then the lines are parallel. if the slopes are not equal, then the lines are not parallel.

m

1

=

5

,

m

2

=

0

m1=5,m2=0