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Which type of account typically has very high liquidity low or no interest and low minimum balance A?
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What is a type of checking account that also earns interest these accounts generally have a minimum balance?
A type of checking account that also earns interest is called an interest-bearing checking account. These accounts typically require a minimum balance to be maintained in order to earn interest.
Which type of checking account pays interest on the mean balance of the account during a particular cycle?
Average Balance account
Is interest payable a credit or debit?
Interest payable is liability account and have a credit balance as a normal balance.
What is the interest rate for current account?
0% Most current accounts do not offer any interest on the balance maintained with them. This is because, the money held in a current account is highly liquid and can be withdrawn any time. So, in order to compensate for the liquidity, banks offer very little to 0% interest. Even if they offer any interest it may not cross 1% per annum.
What amount of money in a checking or a savings account upon which interest is based?
The amount of money in a checking or a savings account is the balance. The interest is usually based on the balance.
When is interest levied on a current account?
Sorry. Not a 'one-size-fits-all kind of answer since each financial institution has its own adopted and published interest-crediting practices. You have to contact your financial institution to find out what your account's rules are.Answer:You do not earn interest on current accounts. Because of the high liquidity offered in current accounts banks do not offer interest on the balance maintained in those accounts.
What is Net Liquidity Balance?
The net liquidity of a position (s) is the cash balance + unrealized g/l.
When the interest paid on a savings account is added to the balance so the interest earns interest this is known as?
Compound interest
To find out your balance on a savings account at a bank which measurements must be accurate?
The number of times interest is calculated for your account Total in your account Interest rate
Taylor wrote a check for 18 on the same day his bank paid interest to his account If his account balance changed 13 that day how much interest did he earn?
Taylor wrote a check for $18 on the same day his bank paid interest to his account. If his account balance changed $13 that day, how much interest did he earn.
If i deposited 235.00 in 1974 in a savings account what would be my balance?
The amount in your balance would depend on the interest rate of your savings account.
What is the relationship between the balance of payments BOP and interest rates?
If the interest rate is lower and balance of payment is large then the currant account will be deficit
