FP 101 week 2 - FP 101 week 2 Discussion 1 Post a 150- to...

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FP 101 week 2 Discussion 1 Post a 150- to 300-word response to the following discussion question by clicking on Reply: Refer to p. 87–93 of Personal Finance. Identify two cash management products and provide a short description of each. Do you have any experience with these products? One of the two cash management products is checking accounts. According to page 87 of Personal Finance all checking accounts are demanding deposit accounts. This means you "demand" withdrawal from your personal account. There is two types of accounts which are regular checking accounts and interest-earning checking accounts. Regular checking accounts are also called basic checking "free checking." This is the account where you do not have to pay a monthly fee as long as you keep a minimum balance in your account. Interest-earning accounts are when you can get check books and debit cards. This is where if you go under the minimum balance you will have to pay and interest rate usually 3 to 7 dollars. Another cash management product is a savings account. A savings account has two different kinds of accounts which are demand deposit and time deposits. A demand deposit for savings accounts let you withdrawal money from your savings easy just like the checking accounts. Time deposits makes you have time limits on when
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FP 101 week 2 - FP 101 week 2 Discussion 1 Post a 150- to...

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