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rate the following bank accounts from most to least liquid: CD, savings account, checking account, money market account.
Hence, the order is:
1) Checking account
2) Savings account
3) Money Market account
” Liquid bank accounts are those you can get your money out of quickly and easily. A variety of bank accounts are liquid assets — unlike other assets that you can’t readily convert to cash, such as real estate “.
on rating these from highest to least we get the order as:
1) Checking account–
Checking accounts are liquid because their major purpose is to keep money flowing to pay bills and make purchases. You can withdraw funds using your debit card at an automatic teller machine, or you can use checks and online transfers to pay bills.
2) Savings Account—
A traditional savings account is liquid because you can withdraw money whenever you want at the teller window.
3) Money market account–
A money market account is also liquid, and it usually pays a higher interest rate than a checking or savings account.
Traditional CDs are less liquid than other bank accounts because you must tie up your money for a set period called the term — usually between six months and five years.
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