Personal Finance: Turning Money into Wealth (7th Edition) (Prentice Hall Series in Finance)
7th Edition
ISBN: 9780133856439
Author: Arthur J. Keown
Publisher: PEARSON
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Chapter 5, Problem 2PA
Summary Introduction
To Identify:
Appropriate vehicle to place the money.
Introduction:
Savings account refers to the bank account where saving money is deposited and interest amount is paid by the bank on the deposit.
The Liquid assets imply that the assets which are readily available to be converted into cash. Examples Cash balance, Bank balance, Account receivables, Fixed deposits, Demand deposits.
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Personal Finance: Turning Money into Wealth (7th Edition) (Prentice Hall Series in Finance)
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