Which option describes a bank savings account?(1 point)ResponsesAn account giving 0.05% interest with no other limitationsAn account giving 0.05% interest with no other limitationsA deposit that has to be maintained in the bank for 1 year in exchange of a 2% interest.A deposit that has to be maintained in the bank for 1 year in exchange of a 2% interest.A “basket” of money pooled in by many investors to acquire securities based on the value of cash.A “basket” of money pooled in by many investors to acquire securities based on the value of cash.An investment in stocks
1 answer
A bank savings account is best described by the option:
An account giving 0.05% interest with no other limitations.
This option accurately reflects a typical savings account, which provides a small interest on deposits without requiring a fixed term or additional constraints. The other options describe different financial products or investment types.
