Question

unit 3 assessment
three of these statements best describe a checking account. which statement best describes a savings account?
this account offers a convenient way to pay bills and access cash from an atm
this account pays you interest on money you have put away for later to help your money grow
this account is automatically debited when you use a debit card
this account typically allows an unlimited number of transactions per month

Explanation:

To determine the statements for checking and savings accounts:

• Checking Account: A checking account is designed for daily transactions. It offers convenience for paying bills and accessing cash from ATMs, gets debited automatically with debit card use, and allows unlimited monthly transactions. So the statements "This account offers a convenient way to pay bills and access cash from an ATM", "This account is automatically debited when you use a debit card", and "This account typically allows an unlimited number of transactions per month" describe a checking account.
• Savings Account: A savings account is meant for saving money over time. It pays interest on the deposited amount to help the money grow. So the statement "This account pays you interest on money you have put away for later to help your money grow" describes a savings account.

Answer:

• Checking Account: "This account offers a convenient way to pay bills and access cash from an ATM", "This account is automatically debited when you use a debit card", "This account typically allows an unlimited number of transactions per month"
• Savings Account: "This account pays you interest on money you have put away for later to help your money grow"