The option which fulfills the needs of Marlon is a Certificate of deposit. Thus the correct answer is A.
What is a Certificate of Deposit?
A certificate of deposit is considered a kind of saving account which helps the account holder to carry a set amount for a fixed period of time. The duration can be of six months, a year, or five years. The bank will be the interest rate to the holder based on the duration.
Marlon wishes to acquire savings over time. He does not require easy access to the funds and is concerned with losing his investment. He wants to know the interest rate right away. In this situation Certificate of the deposit will be suitable as it holds money for a fixed duration of time.
This will be better as it provides a higher rate of interest and does not charge any maintenance fees from the account holder.
Therefore, option A Certificate of deposit.
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