Question: Use the following categorization table to identify transaction and nontransaction accounts. Savings, or Passbook Accounts Money Market Deposit Accounts NOW Accounts Certificates of Deposit,

Use the following categorization table to identify transaction and nontransaction accounts. Savings,

Use the following categorization table to identify transaction and nontransaction accounts. Savings, or Passbook Accounts Money Market Deposit Accounts NOW Accounts Certificates of Deposit, CD Demand Deposits Transaction Account Nontransaction Account Why and when were NOW accounts created? C n n In the 1970s as a way to get around restrictive banking regulations In the early 2000s so that households could tap into the rising value of their houses In the 1980s as a way for bank customers to invest in the stock market During World War II to deal with wartime shortages

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