Question

Which of the following is the best decision to allocate savings to a productive
use?

A. Option A because it is difficult to remove the money once deposited.

B. Option A because it will be available at home if ever needed.

C. Option B because the account will accumulate interest over time.

D. Option B because it offers free withdrawals during business hours

Answer 1

The best option that points the decision to allocate savings to a productive cause is option C.

The reason why option C is the best option is because of the fact that the money that is saved in the bank usually generates interest.

The interest that is gotten from saving money is the customers benefit for saving money in a commercial bank.

Unlike the piggy bank that is shown here, the interest rate can only be gotten on money saved in a bank.

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