Savings and Ivestment Portfolio

Ditributed evenley, invested $35,000 in each

• Checking Account
• Savings Account
• Money Market Deposit Account

Checking account- An account at a

depository

institution that

provides an

easy method

for withdrawing

or depositing

money.

Savings

Account- An account at a

depository

institution that

is designed to

hold money not

spent on

current

consumption.

Money
Market
Deposit
Account- An account at a
depository
institution that
usually has
minimum
balance
requirements
and Ɵered
interest rates

Checking account intrest rate-

MMA and SAVINGS
Rate: 0.55%
Last Week: 0.52%

Savings account intrest rate:

Most online banks currently offer interest rates ranging from 0.75% to 0.95%. One of the top rates today is 1.05% APY offered by Synchrony Bank, although rates do change frequently.

Money

Market

Deposit

Account intrest rate:
Money market account Synchrony Bank APY 0.85%

Risk for having a checking account- you can be a victim of fraud if you have a checking account

Risk of having a savings account- one great disadvantage to savings accounts is that they offer low interest rates, which means a poor return for you. In fact, the returns may be so low that you risk inflation eating away at the value of your deposit.

Risks to having money market desposit account-

You're not risking anything and you can still get a rate of return that should cover inflation, or pretty close.

Checking account

• Popular among consumers, because checking accounts reduce the need to carry large amounts of cash and are easy to use and manage.
• Also known as a share draŌ account at a credit union

Savings account

• Great account for storing emergency savings funds
• Savings accounts may help a person save money easier than a checking account, because the money isn’t as accessible.

MoneyMarketDepositAccount

• Similar to a savings account but earn higher interest rates and has higher minimum balance/deposit requirements
• Customers are usually required to deposit a minimum amount to open a money market deposit account (typically $1,000) and maintain that minimum balance.

I think that I would use each of these investment tools in my career of marketing. Because when you are in business you need to learn how to save your money and invest wisely

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