5.3.A.1 - Accepting Deposits
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Practice Questions
Test your understanding with targeted questions
What is a savings account?
💡 Hint: Think about how banks encourage savings.
Name one feature of a current account.
💡 Hint: Consider its primary usage in daily banking.
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Interactive Quizzes
Quick quizzes to reinforce your learning
Which type of account typically earns no interest?
💡 Hint: Consider which account is most frequently used in transactions.
True or False: Fixed deposits do not allow you to withdraw funds before the maturity period.
💡 Hint: Think about the nature of fixed deposits locking funds.
1 more question available
Challenge Problems
Push your limits with advanced challenges
Imagine you are saving for a car using various accounts. If you deposit $100 a month into a recurring deposit that offers 5% interest, how much will you have after 2 years?
💡 Hint: Consider both the total contributions and the compound interest on them.
Evaluate the suitability of a current account for a small business needing to handle multiple transactions daily while ensuring liquidity.
💡 Hint: Focus on how businesses handle cash flow versus savings.
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