What Is the Major Distinction Between NOW Accounts and Traditional

question 91

Multiple Choice

What is the major distinction between NOW accounts and traditional demand deposits?

• A)Minimum account balance requirement to earn interest for NOW accounts.
• B)Zero explicit interest on NOW accounts.
• C)Noncheckable nature of NOW accounts.
• D)NOW accounts usually involve physical presence at the institution for withdrawal.

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Definitions:

Echoic Memory

A subtype of sensory memory that retains audio information for a few seconds after the sound is heard.

Visual Stimulation

Exposure to visual stimuli that influences a person's feelings, perception, or cognitive processes, often used in education, therapy, and entertainment.

Auditory Stimulation

The process of provoking a response through exposure to auditory stimuli, such as sounds or music.

Mnemonic Technique

A memory aid or strategy to make information easier to remember.