PERSONAL FINANCE
8th Edition
ISBN: 9780134730981
Author: KEOWN
Publisher: PEARSON
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Chapter 5, Problem 2DC1
Summary Introduction
To discuss:
Factors to be considered while selecting a checking and/or savings account.
Introduction:
Checking account refers to a deposit account kept at a financial institution which allows deposits and withdrawals. These accounts are very much liquid among all other types of accounts. It is also known as transactional account.
Savings account refers to an account in which interest is paid by the bank on the amount of deposit made by the account holder. This account is opened to make savings which can be done on daily basis or weekly or even monthly.
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