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3 years ago

What is the best reason for Jacinta to have a savings account in addition to a checking account?

2 answers:

5 0

Option D is correct. The best reason for Jacinta to have a savings account in addition to a checking account because a savings account allows her to set her money aside.

Further Explanation:

Savings account:

The savings account is a bank account in which the individual saves his income. The individual saves his excessive amount of income, which has been left after the expenses. The bank in which the individual saves his money provides the interest on that amount. The individual does so, not only to save money but also for the uncertainty that occurs in the future. There are many reasons to save the extra income in savings account due to theft also.

Justification for the correct and incorrect answer:

A savings account protects her money from overdraft fees: This option is incorrect.

Overdraft means the customer withdrawsthe amount more than he has in the savings account. The bank is charged with the fees on the overdraft. The savings account does not protect from the overdraft fees because it is already the negative balance in the savings account.

A savings account Option her money under the FDIC: This option is incorrect.

FDIC is a federal deposit Insurance Corporation which provides the insurance on the savings account of the customer. Jacinta can insure her money, but the insurance is provided on a certain limit, which is $250,000. If she has greater than $250,000, then there is no need to have a savings account.

A savings account guards her money under inflation: This option is incorrect.

Inflation means the rise in the prices of the goods. In case the price of a good increase,the goods are expensive. A savings account does not increase the amount of money.This statement is not correct.

A savings account allows her to set her money aside:This option is correct.

A savings account allows her to set money aside for future needs and emergencies. The statement is correct for the benefit of a savings account.

Learn more:

1. Learn more about inflation

brainly.com/question/3370347

2. Learn more about a savings account

brainly.com/question/2652429

3. Learn more about federal reserve bank

brainly.com/question/9417688

Answer details:

Grade: Middle School

Subject: Accounting

Chapter: Money and Banking

Keywords: reason, Jacinta, to have a savings account, in addition, checking account, savings account, overdraft, insures, FDIC, against inflation, money aside, uncertainty, future, specific limit, and insurance.

Lesechka [4]3 years ago

4 0

The answer is: A savings account allows her to set her money aside.

Saving account has a limited number of withdrawal while checking account has unlimited withdrawals as long as you still have enough money stored, This make a saving account perfect for the people who want to control their spending.

By having these two account, Jacinta could has a better control over her finance and ensure that she does not overspent her income. This would help her obtain financial security before the time of her retirement.

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