Question: Distinguish between a checking account and a savings account
Distinguish between a checking account and a savings account.
Answer to relevant QuestionsDefine and discuss(a) Demand deposits(b) Time deposits(c) Interest-paying checking accounts.What are the key factors to consider when opening a checking account? Discuss the advantages and disadvantages of individual versus joint accounts.What factors determine the amount of interest you will earn on a deposit account? Which combination provides the best return?Describe some of the short-term investment vehicles that can be used to manage your cash resources. What would you focus on if you were concerned that the financial crisis would increase inflation significantly?What type of housing would you choose for yourself now, and why? Why might you choose to rent instead of buy?
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