Answered

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Which of the following statements about an online savings account is true?

A. It offers lower interest rates because it costs more money to maintain the online site.
B. It works nothing like a basic bank savings account.
C. It offers higher interest rates because they don't have the overhead that standard banks have.
D. It has more restrictions on how often withdrawals can be made and typically requires a minimum balance.

Sagot :

GinnyAnswer

Final answer:

Online savings accounts offer higher interest rates due to lower overhead costs and have restrictions on withdrawals.


Explanation:

Online savings accounts typically offer higher interest rates compared to standard bank savings accounts due to lower overhead costs. They often have more restrictions on withdrawals and may require a minimum balance to be maintained. This type of account functions differently from basic bank savings accounts as it operates primarily online.


Learn more about Online savings accounts here:

https://brainly.com/question/18395733


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