Janelle likes to keep all her savings goals separate, so she has an account for each one, including an account to save for her college textbooks every semester. She buys books about every 6 months, with roughly $550 due each time. She likes to save the money up in installments, with auto-deposits from each of her twice monthly paychecks. She’s wondering if her online savings account, earning 0. 75%, is still her best option for monthly deposits toward her textbooks. Which account would you recommend? why?

A certificate of deposit (CD) can be defined as a secured form of time-bound deposit and a special low-risk savings account that is issued by a financial institution (bank) to its customers, wherein money (lump-sum) are left with the bank for a specific period of time in exchange for an interest rate premium.

This ultimately implies that, a certificate of deposit (CD) pays a higher interest rate to its holder than other regular savings account because banks usually invest the money (lump-sum) in a business to make profit.

Additionally, a bank's certificate of deposit (CD) is protected and insured by the Federal Deposit Insurance Corporation (FDIC) for up to $250,000.

In conclusion, I would recommend a certificate of deposit (CD) for Janelle to keep all her savings because it would pay a higher interest rate.

Read more on interest rate here: brainly.com/question/24341207