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Firdavs [7]
3 years ago
7

Risks of having a checking account

Business
1 answer:
katrin [286]3 years ago
5 0
Checking account possible risks include:
- identity theft
-overdrafting
-limited amount to withdraw from ATM
-Fee for not having enough in yours account.
-Fees for using your card
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The role of money include:

1. Medium of Exchange: Money is used to facilitate the sale, purchase, or trade of goods between parties. It is used as a medium of exchange for goods and services that is why Sam had to save some money so that he will have access to the car he wants.

2. Unit of Account: The value of something is measured in a specific currency. From the question, the value of each car was stated using a value of money. This will enable the buyer or seller known the value if what is to be bought or sold.

3. Store of Value: A store of value is something that people use to transfer purchasing power from the present to the future. Here, Same had saved some money which did not change in value as at when he wanted to buy the car and he also had to obtain a loan that would be paid off on a later date.

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