### Answer
Savings accounts are also known as **time deposits**.

### Explanation
- **Time Deposits:** These are savings accounts where the money is deposited for a fixed period and often earn a higher interest rate.
- **Demand Deposits:** Typically refer to checking accounts or accounts from which funds can be withdrawn at any time without prior notice.
- **Money Market Accounts:** These accounts typically offer higher interest rates compared to regular savings accounts but may require a higher minimum balance.
- **NOW Accounts:** Negotiable Order of Withdrawal accounts are checking accounts that pay interest but have specific rules and limitations.

Given these definitions, "time deposits" is the correct choice as it directly correlates with savings accounts.

Question

### Answer
Savings accounts are also known as **time deposits**.

### Explanation
- **Time Deposits:** These are savings accounts where the money is deposited for a fixed period and often earn a higher interest rate.
- **Demand Deposits:** Typically refer to checking accounts or accounts from which funds can be withdrawn at any time without prior notice.
- **Money Market Accounts:** These accounts typically offer higher interest rates compared to regular savings accounts but may require a higher minimum balance.
- **NOW Accounts:** Negotiable Order of Withdrawal accounts are checking accounts that pay interest but have specific rules and limitations.

Given these definitions, "time deposits" is the correct choice as it directly correlates with savings accounts.

Knowee AI · Accepted Answer

### Answer
Savings accounts are also known as **time deposits**.

### Explanation
- **Time Deposits:** These are savings accounts where the money is deposited for a fixed period and often earn a higher interest rate.
- **Demand Deposits:** Typically refer to checking accounts or accounts from which funds can be withdrawn at any time without prior notice.
- **Money Market Accounts:** These accounts typically offer higher interest rates compared to regular savings accounts but may require a higher minimum balance.
- **NOW Accounts:** Negotiable Order of Withdrawal accounts are checking accounts that pay interest but have specific rules and limitations.

Given these definitions, "time deposits" is the correct choice as it directly correlates with savings accounts.

Multiple Choice QuestionSavings accounts are also known as ______.Multiple choice question.time depositsdemand depositsmoney market accountsNOW accounts

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