A Checking Account Typically Pays __________________, but Gives Easy Access

question 5

Multiple Choice

A checking account typically pays __________________, but gives easy access to your money, either by writing a check or by using ______________.

• A) no interest; a credit card
• B) between 3% and 5% interest; a credit card
• C) little or no interest; a debit card
• D) between 2% and 4% interest; a debit card

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Definitions:

Market Price

The current price at which an asset or service can be bought or sold in an open and competitive market.

Gross Profit Percentage

A financial ratio expressing gross profit as a percentage of revenue, indicating the efficiency of production or service delivery.

Net Profit Margin Percentage

This is a financial metric that represents the percentage of revenue that remains as profit after all operating expenses, interest, taxes, and preferred stock dividends have been deducted from a company's total revenue.

Cost of Goods Sold Percentage

A ratio that compares the cost of goods sold to the total sales revenue, indicating the efficiency of production and pricing.