Which option describes a bank savings account?(1 point) Responses An account giving 0.05% interest with no other limitations An account giving 0.05% interest with no other limitations A deposit that has to be maintained in the bank for 1 year in exchange of a 2% interest. A deposit that has to be maintained in the bank for 1 year in exchange of a 2% interest. A “basket” of money pooled in by many investors to acquire securities based on the value of cash. A “basket” of money pooled in by many investors to acquire securities based on the value of cash. An investment in stocks. An investment in stocks.
The correct option is: An account giving 0.05% interest with no other limitations.
The option that describes a bank savings account is:
An account giving 0.05% interest with no other limitations.
The correct option that describes a bank savings account is:
Option 1: An account giving 0.05% interest with no other limitations.
To identify the correct option, you need to look for the choice that matches the features of a bank savings account. A bank savings account typically offers a low interest rate (in this case, 0.05%) and does not impose any other limitations. Options 2, 3, and 4 do not align with the characteristics of a savings account, as they involve specific deposits, pooled investments, or investments in stocks which are different financial instruments. Therefore, Option 1 is the most appropriate choice for describing a bank savings account.