What is a NOW account? How is it different from a regular checking account? How does a savings account compare with a NOW account?
Answer to relevant QuestionsWhat terms does a financial institution specify for certificates of deposit? Why are rates on CDs higher than those on savings accounts? What factor would most affect your choice of maturity date on a CD? Lisa is depositing $ 2,500 in a six-month CD that pays 4.25% interest. How much interest will she accrue if she holds the CD until maturity? Brenda purchased a $ 30,000, 90- day T- bill for $ 29,550. What will Brenda’s return be when the T- bill matures? What will her annualized rate be? What are the advantages and disadvantages of using credit? What should you consider when comparing credit cards?
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