Question

Match each account type with its description. basic checking account interest-bearing checking account savings account money market deposit account pays higher interest than a savings account earns interest and allows unlimited ATM use does not earn interest and has a low minimum balance requirement restricts access to funds through withdrawals

Answer 1

basic checking account = Both does not earn interest and has a low minimum balance requirement;

interest-bearing checking account = Both earns interest and allows unlimited ATM use;

savings account = Both restricts access to funds through withdrawals;

money market deposit account = pays higher interest than a savings account;

Step-by-step explanation:

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Answer 2

basic checking account: does not earn interest and has a low minimum balance requirement

interest-bearing checking account: earns interest and allows unlimited ATM use

savings account: restricts access to funds through withdrawals

money market deposit account: pays higher interest than a savings account

Step-by-step explanation:

-A basic checking account is an account with a bank that allows you to deposit and withdraw money but they don't offer interests and a minimum balance has to be maintained.

-An interest bearing checking account is an account with a bank that pays interests and offers an easy access to the money allowing to write checks, use a card to make unimited withdrawals and transfer money.

-A savings account is a bank account that allows you to deposit money and earn interests but it has a monthly limit on withdrawals.

-A money market deposit account is an account that pays interests according to the interest rates in the money markets and they tend to be higher than the ones paid in savings accounts.