Write the Word or Phrase That Best Completes Each Statement

question 26

Essay

Write the word or phrase that best completes each statement or answers the question.Decide whether the statement makes sense. Explain your reasoning.
-Steve is planning to open a savings account either at Quarterly Bank or at Daily Bank.
Quarterly Bank is offering an APR of 5.5% compounded quarterly, which is clearly the
better deal since Daily Bank is offering an APR of 5.5% but with daily compounding.

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Definitions:

Short Of Cash

A situation where an individual or organization does not have enough money available to meet immediate or short-term financial obligations.

Condition Subsequent

A condition in a contract that, if it occurs, terminates the contract or an obligation under the contract.

Discharge By Agreement

Agreement by the parties that a contract is ended.

Discharge By Frustration

The termination of a contract due to unexpected events which render the performance of the contract impossible or radically different.