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25 September, 14:51

Tamara has $500 she is looking to save for a class trip. She wants to earn the most money possible interest and will not need access to her money for a full year. Which type of savings account will be best for Tamara

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  1. 25 September, 15:10
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    Tamara would need a Certificates of Deposit or commonly known as time deposit account. Time deposit account would earn higher interest than regular savings account because the money is kept in the account for a specified time. The longer the money is kept in the account, the higher the interest rate.
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