Automatic Teller Machines and Debit Cards Are Examples of

question 41

Multiple Choice

Automatic teller machines and debit cards are examples of

• A)electronic funds transfer systems.
• B)commodity monies.
• C)legal tender in the United States.
• D)modern barter systems.

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Definitions:

Per Annum

A term used to represent an annual occurrence or an amount over the course of a year.

Cashing In

The process of selling or converting a financial asset or investment for cash.

Combined Equivalent Value

The total value derived from combining several financial instruments or calculations to understand their overall effect.

Payment Stream

A sequence of payments made over a period of time as per the terms of a financial agreement.