Tim has a checking account with $1,200 remaining after paying bills after several months. He wants to earn interest on this money rather than keep extra money he does not need for monthly bills in his checking account. Over the next year, he thinks he might need to withdraw $100 one or two times. His bank requires $250 to open a regular savings account, $500 for a one-year CD, $750 for a two-year CD, and $1,000 to open a money market account. Decide which choice would be the best for his situation. open a regular savings account
open a money market account
open a one-year CD
open a two-year CD