Sofia has saved $10,000. she wants to be sure that she is earning interest on her money and can add to her savings. she also wants to be able to access her money if the need should arise. which type of account is most suitable for sofia’s needs?
a) a money market account
b) a certificate of deposit
c) a savings bond
d) a savings account

a) a money market account

Explanation:

The following terms need to be explained below:

a. Money market account: It is a combination of the checking and saving account. The motive of the money market account is to pay the interest according to the current market interest rates.  In this, the high interest rate is earned than the saving and checking account. The amount can be withdrawn at any time.

b.  Certificate of deposit: It is a type of the term deposit that means the amount which is deposited in the bank for the certain time period. In this also, more interest is earned than the saving account

c. Saving bond: The saving bond is issued by the United States Treasury Department. It is one of the safest bond as it is credited by the United States government with full trust.

d. Saving account: It is a deposit account in which you can deposit, withdraw the amount with the proper care and diligence. By doing these transactions you can earn the interest

In the given scenario, the most appropriate option is a.