A Payment System That Uses Computerized Electronic Impulses to Effect

question 162

True/False

A payment system that uses computerized electronic impulses to effect a cash transaction is called electronic funds transfer (EFT).

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Definitions:

Retirement Date

The specific date on which an individual decides to leave the workforce permanently, ceasing employment and often beginning to withdraw from retirement savings.

Increase Each Deposit

A strategy or action where the amount of money deposited in a savings, investment, or other financial account is progressively increased over time.

University Education

The level of education focusing on specialized study provided by universities and other higher education institutions, typically leading to a degree.

University Tuition

The fee charged by educational institutions for instruction and other services related to academic enrollment.