A[n] ________ Account Is an Account Maintained by a Neutral

question 58

Multiple Choice

A[n] ________ account is an account maintained by a neutral third party into which a deposit on property is placed until all necessary steps for a transfer of property can be made.

• A)Escrow
• B)Closing
• C)Back-up
• D)Accountable
• E)Earnest

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Definitions:

Deposit Monthly

Refers to putting a certain amount of money into a financial account or investment regularly every month.

Goal

An objective or desired result that a person or a system envisions, plans, and commits to achieve.

Compounded Semi-annually

A method of calculating interest in which interest is compounded to the principal amount semi-annually.

Quarterly Payments

Payments made four times a year at three-month intervals.