A Check That Is Accepted at the Bank at Which

question 73

Multiple Choice

A check that is accepted at the bank at which it is drawn is a[n] _ check.

• A)Transferred
• B)Drawee
• C)Certified
• D)Acknowledged
• E)Cashier's

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Definitions:

Compounded Monthly

Refers to the process where interest is added to the principal balance of an investment or loan, and future interest calculations are made on the new total, on a monthly basis.

Annual Interest Rate

The percentage increase in money owed or invested over a year, accounting for the cost of borrowing or the gain on savings.

Compounded

In finance, refers to a method where interest earned is added to the principal, so that, from that moment on, the interest that has been added also earns interest.