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2 years ago

which type of account typically has very high liquidity, low or no interest, and low minimum balance?

Business

2 answers:

Aliun [14]2 years ago

8 0

Answer: Checking Accounts

Explanation:

The following are some type of accounts,

a). <em>Checking Account</em>- It gives the depositor the lowest level of interest and has a very high liquidity. This account has no or low minimum balance.

b). <em>Savings Account</em>- This has a low interest but gives the flexibility to the depositor to withdraw the money at anytime.

c). <em>Money market account</em>- This account type has a higher interest than any saving or checking account with some minimum balance requirements.

d). <em>CD's (Certificate of Deposits)</em>- This account type has the highest interest at the cost of locking up your funds for a certain period.

Therefore, Checking account is the correct option which has all the features low liquidity, low interest and low minimum balance.

sdas [7]2 years ago

6 0

<span><span>Checking accounts: best for unrestricted access to funds; typically worst for earning interest.
</span><span>
Savings accounts: good for earning some interest with quick access to funds.
</span><span>
Money market accounts: can have higher interest than savings accounts, plus some check-writing and ATM access.
</span><span>
Certificates of deposit (CDs): highest interest rates in exchange for most-limited access to funds</span></span>

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