Question

Rank the three types of deposits that savers make at banks from “most liquid” to “least liquid.” also rank them from the “highest return” to “lowest return.” if you wanted to save money at your bank for a purchase you plan to make one year from now, which type of deposit would you make? why?\

Answer 1

1. Checkable deposits - comprise of any request store account against which checks or drafts of any sort might be composed.
2. Savings - deposit account held at a retail bank that pays premium yet can't be utilized specifically as cash in the thin feeling of a medium of trade.
3. Time - a deposit in a financial balance that can't be pulled back before a set date or for which notice of withdrawal is required.