Current Account Includes

question 17

Multiple Choice

Current account includes

• A)(i), (ii), and (iii)
• B)(ii), (iii), and (vii)
• C)(iv), (v), and (vii)
• D)(i), (v), and (vi)

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Definitions:

Monthly Contributions

Regular payments made into a financial scheme, savings, or investment plan every month.

Interest Earned

The amount of money gained as interest from an investment or savings over a period of time.

Compounded Monthly

A method of calculating interest where the accumulated interest is added to the principal at the end of each month, leading to an increase in the amount of future interest.

Compounded Quarterly

The method of calculating interest by adding the interest to the principal amount on a quarterly basis, which then earns additional interest in the subsequent quarters.