A certificate of deposit (CD) would be the best banking choice
when the interest rate is determined ahead of time
and there is an assurance to get back what you put in plus interest once the CD matures.
What type of account is most suitable for Sofia's needs?
A savings account
allows her to set her money aside. Sofia has saved $10,000 and wants to be sure that she is earning substantial interest on her money. Though she plans to add to her savings as her earnings increase, she wants to be able to access her money if the need should arise.
Which would be the best action for Karina to take?
After reviewing her well-kept records, she cannot find anything that is incorrect. Which would be the best action for Karina to take?
Check her records against her bank statement
.
Which of these is the best reason for Nina to maintain up to date and accurate records of her bank accounts quizlet?
Which of these is the best reason for Nina to maintain up-to-date and accurate records of her bank accounts?
To know how much money she has for budgeting
. … Hafsa wants a guaranteed return, and won't need the money for several years.
Which of these is the best reason for Nina to monitor?
The best reason for Nina to monitor her bank account statements online or on her cell phone app is
to know how much money she has for budgeting
.
Which situation would a savings account be the best investment to earn interest?
Answer Expert Verified If you have a large amount of money to save at one time,
a savings bond
would be the best investment to earn interest. If you do not need the money right away, a savings bond will allow you to earn interest at a faster rate.
Which transaction can increase the balance in a checking account?
Deposits
increase the checking account balance. You can deposit a greater amount than the balance in the account.
How is a savings account most useful?
Because it usually provides interest, allows for easy withdrawals, and is insured, a savings account is most useful for money that you would need in the near future. This makes savings accounts ideal
for emergency funds and your large purchase goals
.
Where do banks get money to lend to borrowers?
Banks generally make money by borrowing money
from depositors and compensating them
with a certain interest rate. The banks will lend the money out to borrowers, charging the borrowers a higher interest rate, and profiting off the interest rate spread.
How should columns be labeled?
These columns should be labeled as
Check Number, Description, Balance
. One of the most important things you have to do in your business if you want to maintain proper control of the daily transactions is to have a record account of each of them.
Which of these can be used to access money in a checking account?
Checking accounts typically come with personal checks and
a debit or ATM card
. You'll probably use a debit or ATM card to access the money in your account more often than checks.
Which is a characteristic of certificates of deposit?
A CD, or certificate of deposit, is a type of
savings account with a fixed interest rate that's usually higher than a regular savings account
, a fixed term length and a fixed date of withdrawal, known as the maturity date. You lock up funds in a CD for a term generally between three months and five years.
Which of the following is a way to access the money in your checking account *?
A traditional checking account can be the best way to keep your money accessible. There are numerous options to access your funds, such as using
a debit card, online banking, writing a check or withdrawing money at an ATM or a branch office
.
Where do banks get money to lend to borrowers quizlet?
Banks obtain funds from individual depositors via savings and money market accounts, CDs, and more. Banks also obtain funds from same via interbank CDs, Federal Reserve deposits and the sale of bank bonds. Where to banks lend money to? Banks loan money to individuals via
car loans, home loans
, etc. . . .
How much money does Lupe now?
| Net Worth: $14 Million | Born: February 17, 1981 | Country of Origin: United States of America | Source of Wealth: Professional Rapper | Last Updated: 2021 |
|---|
What do banks usually offer in order to encourage you to put money in a savings account?
Banks encourage people to save money by
offering interest on the money saved
. Interest is extra money that is added regularly to a savings account.
