Which of the following is NOT true about money market accounts?
A) A minimum balance must be kept in the account for the term specified.
B) The interest rate paid is fixed for short periods of time.
C) A small number of checks may be written against the account.
D) Money market accounts typically offer lower interest rates than regular savings accounts.
Question 2
The term that describes the numeric value where the interest rate and number of interest periods meet in a compound interest table is the
A) interest value.
B) multiplier.
C) periodic rate.
D) factor.
Example of calculation of days in accounts receivable (AR).
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