Which of the following statements about savings

accounts is FALSE?

Savings accounts may require you to maintain a

minimum balance to avoid paying a fee.

Savings accounts are best used to store money for

longer-term goals.

Savings accounts limit the number of withdrawals

that can be made each month.

Savings accounts don't usually pay interest on the

money you deposit.

Question

History

Harmony Tyler

25 October, 15:21

Which of the following statements about savings

accounts is FALSE?

Savings accounts may require you to maintain a

minimum balance to avoid paying a fee.

Savings accounts are best used to store money for

longer-term goals.

Savings accounts limit the number of withdrawals

that can be made each month.

Savings accounts don't usually pay interest on the

money you deposit.

+4

Answers (1)

Know the Answer?

Landen Graves · Answer 1

The statement about savings accounts that is FALSE is Savings accounts don't usually pay interest on the money you deposit.

Explanation:

Savings accounts have different interest rate, then any client from any bank by keeping the money in their account without withdrawing any from it can make their money grow, which is a kind of inversion that people can do, it does not give a big profit but at the end it is better to keep it there and make it grow that just keep it elsewhere.