Answered

Which statement best describes the difference between a checking account and a savings account?
O Checking accounts provide customers with interest, while savings accounts do not.
O Checking accounts are held only by businesses and savings accounts only by individuals.
O Checking accounts allow customers to easily pay for goods and services, while savings accounts are used to hold
money for longer periods of time.
O Checking accounts require customers to go into a bank branch, while savings accounts are accessed by
customers on their mobile phones or computers.



Answer :

GinnyAnswer

Final answer:

Checking accounts facilitate daily transactions, while savings accounts are designed for saving money over the long term.


Explanation:

Checking accounts and savings accounts serve different purposes. Checking accounts are for everyday transactions, providing easy access to funds for purchases through checks or debit cards. On the other hand, savings accounts offer interest rates but are intended for holding money for longer periods, usually requiring a visit to the bank for withdrawals.


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