Final answer:
A Certificate of Deposit (CD) is the best investment option for someone needing cash soon due to its fixed interest rate and low-risk nature.
Explanation:
Certificate of Deposit (CD) would be the best investment option for someone needing cash soon as it offers a fixed interest rate over a specific term, ensuring the principal amount is preserved while gaining a modest return. CDs are low-risk and can be easily converted to cash before maturity, albeit with potential penalties.
On the other hand, mutual funds, a 401(k), and a standard savings account might not be ideal choices for someone seeking immediate access to cash due to potential restrictions on withdrawal or market fluctuations affecting returns.
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