Kimberly Has Opened an Account in Northwater City Bank

question 147

Multiple Choice

Kimberly has opened an account in Northwater City Bank. She receives a 3.5 percent interest rate on the money she deposits in her account. She does not use the funds from the account to meet her minor expenditures but only uses them when there is any major expenditure. In the context of this scenario, which of the following kinds of bank accounts does Kimberly hold?

• A) A concentration account
• B) A basic checking account
• C) A fixed deposit account
• D) A savings account

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Definitions:

Scaffolding

The process whereby more advanced thinkers or more capable members of a culture provide novice learners with a supportive temporary prop that enables the novice to learn and to reach higher levels of thinking.

Promotes Learning

Activities or strategies that enhance the acquisition of knowledge or skills.

Cognitive Development

The process by which individuals learn and acquire intelligence, conscious thought, and problem-solving ability from infancy to adulthood.

Construct Knowledge

The process of actively creating new understandings and insights based on personal experience and interaction with the environment.