Answered

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Generally, money deposited can be:

A. as needed
B. only at retirement age of 59 1/2 or older
C. only for emergencies
D. only if authorized by the account manager

Please select the best answer from the choices provided:
A
B
C
D

Sagot :

GinnyAnswer

Final answer:

Depositors can generally withdraw money from a bank at any time; tax advantages and compound interest are crucial for retirement savings.


Explanation:

Money deposited in a bank can generally be withdrawn at any time by depositors, unless there are specific restrictions placed on the account. During times of economic uncertainty, such as during the Great Depression, depositors may rush to withdraw their funds from banks out of fear of bank failures.

One key aspect of saving for retirement is the tax advantages associated with retirement funds. Contributions to retirement accounts are typically tax-free, reducing the tax burden, and taxes are paid when withdrawals are made in retirement. Starting to contribute to a retirement plan early can lead to greater wealth at retirement due to compound interest.


Learn more about Deposits, Withdrawals, Retirement Savings here:

https://brainly.com/question/39220695


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