BUSINESS ADMINISTRATION
BUSINESS MATHEMATICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Interest rate
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Check number
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Balance
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Transaction
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Detailed explanation-1: -A certificate of deposit (CD) is called a “term deposit” because the depositor agrees to keep it with a financial institution for a specified amount of time. The end of that fixed term, whether it’s six months or 60 months, is called the maturity date.
Detailed explanation-2: -A passbook savings account is a savings account in which the consumer retains a book or other document in which the institution records transactions on the account. Passbook savings accounts include accounts accessed by preauthorized electronic fund transfers to the account.
Detailed explanation-3: -Balancing your checkbook, which is also known as reconciling your account, is basically about making sure that the records you have kept for your financial transactions match those the bank lists on your statement.