5.3.A - Primary Functions
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Practice Questions
Test your understanding with targeted questions
What type of account earns interest while allowing customers to save money?
💡 Hint: Think about accounts focused on saving.
What function does a current account serve?
💡 Hint: Consider accounts used daily.
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Interactive Quizzes
Quick quizzes to reinforce your learning
What type of account typically earns interest on deposits?
💡 Hint: Focus on accounts that promote saving.
True or False: A current account generally earns interest.
💡 Hint: Recall the characteristics of current accounts.
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Challenge Problems
Push your limits with advanced challenges
If a customer has a savings account with a 4% interest rate and deposits $5,000, how much will they have after 2 years?
💡 Hint: Use the formula for compound interest.
Discuss the impacts of banks providing loans on local businesses and community development.
💡 Hint: Think about the economic cycle and how businesses contribute to it.
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