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2 cards from this section. Quick, good the night before a test.
What are the three types of deposits a bank accepts?
Think about the ways people save money.
Which type of deposit typically does not earn interest?
Consider the purpose of a business account.
Which account type typically offers the highest interest?
Consider which account type restricts access to capital for a period.
True or False: Current deposits usually earn interest.
Think about the purpose of a business checking account.
A small business owner has $10,000 in a current deposit and $5,000 in a fixed deposit. They want to buy equipment that costs $12,000. Discuss how they can manage their deposits to achieve this goal.
Think about which accounts offer liquidity.
Create a scenario where a customer shifts funds from a savings account to a fixed deposit. Explain why this might be a strategic financial decision.
Focus on benefits of locking funds for a period.
4 more questions in this section. Enroll free to practise them all.
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