Question

which of the following is not true of peer - to - peer payment apps? 1 point
these include venmo, paypal and cashapp
they are a convenient way to send another person money instead of cash
they are a safe account to hold lots of money in
there are some scams involving these apps
three of these statements best describe a checking account. which statement best describes a savings account? 1 point
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:

• First question: Peer - to - peer payment apps like Venmo, PayPal, and CashApp are convenient for sending money. However, they are not designed as safe accounts to hold large amounts of money. They are more for quick transfers, and there are security risks if large sums are kept in them for long.
• Second question: A savings account is mainly for saving money, and one of its key features is that it pays interest on the deposited amount to help the money grow over time. Checking accounts are more for day - to - day transactions like bill - paying and ATM access, and they are debited when a debit card is used. Also, checking accounts may have more transaction allowances, but the interest - earning aspect is what differentiates a savings account.

Answer:

• First question: "They are a safe account to hold lots of money in" is not true.
• Second question: "This account pays you interest on money you have put away for later to help your money grow" best describes a savings account.