Ms. J earns a six-figure salary and has built up a cash reserve of over $20,000. She maintains a checking and a savings account and also has a credit card which she uses for most of her purchases. She has opened several CDs as well and has also opened up a money market account where keeps almost $10,000. The bank has requested her to open up a cash management account but she hesitates to do so as she believes that the current arrangement is fine in meeting her requirements. Characters in the case : Ms. J Adequate information: Earns a six-figure salary Cash Reserve over $20,000 Maintains a checking and a savings account Maintains several CDs Maintains money market account worth nearly $10,000 To determine: Cash management account and its benefits.

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Chapter 5, Problem 3FPC

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Case summary:Ms. J earns a six-figure salary and has built up a cash reserve of over $20,000. She maintains a checking and a savings account and also has a credit card which she uses for most of her purchases. She has opened several CDs as well and has also opened up a money market account where keeps almost $10,000. The bank has requested her to open up a cash management account but she hesitates to do so as she believes that the current arrangement is fine in meeting her requirements.

Characters in the case : Ms. J

Adequate information:

Earns a six-figure salary

Cash Reserve over $20,000

Maintains a checking and a savings account

Maintains several CDs

Maintains money market account worth nearly $10,000

To determine: Cash management account and its benefits.

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