Question: Explain the reasons for holding cash How much pocket money
Explain the reasons for holding cash. How much pocket money (coins and currency) should most people hold? What advantages does a checking account have over pocket money?
Answer to relevant QuestionsList and briefly explain three fundamental deposits and five other popular types of deposits, ranking them according to availability, safety, and liquidity. Juan Mendez has just opened a savings account that pays interest at a 4 percent annual stated rate, compounded semiannually. If he puts $1,000 in the account, how much will he get back a year later? After he opened the ...1. What are the pros and cons of borrowing on a credit card to pay for the necessary auto repairs? 2. What are the pros and cons of borrowing on home equity to pay for the necessary auto repairs? 3. How would you advise the ...Why should you be particularly concerned about the following items? a. The rule of 78 b. The acceleration clause c. The add-on clause d. A balloon payment 1. Assuming a 30-day period in November, calculate November’s interest. Also calculate the interest Nancy would have paid with: (a) The previous balance method, (b) The adjusted balance method. 2. Going back in time to ...
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