Question

westin wants to borrow $1,000 from missy to help pay his deposit at his new apartment. missy says she will agree to the loan him the money only if westin promises to repay her within six months and if betty promises to pay if westin fails to do so. if betty agrees to the arrangement, betty's promise is called a:

Answer 1

Westin wants to borrow $1,000 from missy to help pay his deposit at his new apartment. If betty agrees to the arrangement, betty's promise is called a: collateral promise.

A deposit is money you put into your bank account. You must deposit cash in a bank to create savings and earn hobby on it. A call for deposit is made for funds you could withdraw every time. A time deposit is a long-time period funding. A deposit could also be the collateral amount you pay while you take on a loan.

Within this class, there are three main kinds of demand deposits: (1) checking bills, (2) savings accounts, and (three) cash marketplace accounts (we are able to pass into these in more detail later)

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