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PFLE Savings and checking accounts Unit 4 Questions And Answers Latest Update
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PFLE Savings and checking accounts Unit 4 Questions And Answers Latest Update
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PFLE Savings and checking accounts Unit 4Questions And Answers Latest Update
Short term goal - correct answers a goal that you can reach in a short period of time
Medium term goal - correct answers a goal that you expect to achieve in 2 to 5 years
long term goal - correct answers goal set for an extended time, typically five years or more into the future
Certificate of Deposit (CD) - correct answers A savings alternative in which money is left on deposit for a stated period of
time to earn a specific rate of return.
Automatic Savings - correct answers with this type of savings, money is transferred to your savings account at regular
time intervals that the customer sets up
savings account - correct answers An account at a depository institution that is designed to hold money not spent on
current consumption
checking account - correct answers A bank account from which payments can be ordered by a depositor
previous balance - correct answers Amount still owed from purchases prior to the current 30-day charge cycle.
check - correct answers A business form ordering a bank to pay cash from a bank account
statement period - correct answers indicates the dates in which the transactions occurred.
transaction - correct answers A business deal or action; exchange of money, goods, or services
ending balance - correct answers The amount of money in a checking account at the end of a statement period.
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