Now that you know about the different types of bank accounts, relate this information to your chosen career path. Write a paragraph explaining the type(s) of bank accounts that you would need in order to save enough money for college or training for your career. Your answer should address the following questions:

Do you already have a bank account? If so, which type(s), and how do you use them? If not, then how could you go about opening a bank account of your own?
After learning about the different types of bank accounts, which one do you think offers the best options for saving money for college, daily living expenses, and an emergency fund?
Define a bounced check, or a check returned for insufficient funds. Explain a circumstance in which someone might bounce a check (give an example), and create and discuss a plan so that this does not happen to you.

I pay for my expenses using either my debit card or cash that I withdraw from the ATM. It is very rare that I write a check to pay for my purchases. If there is an emergency situation, I withdraw money from one of my certificates of deposit.

I want to be a physicist, and I plan to earn a graduate degree in physics from Harvard University. I don’t have enough money saved up to pay for my tuition, even though I have two certificates of deposit accounts and one savings account. This means that I will probably have to take a student loan from my bank. However, I do have sufficient money in my checking account to pay for my daily expenses.

A bounced check is a check that a person has written but cannot pay for due to insufficient funds. For example, a person might send a check for a credit card bill but the person’s bank account may not have sufficient balance to pay this amount. To avoid check bouncing, I’ll always try and remember a rough figure of the money in my account. Additionally, wherever possible, I will pay my bill either in cash or by debit card.

Explanation:

PLATO sample answer

codiepienagoya codiepienagoya · Answer 2 · 2022-04-28T19:51:14+02:00

A bank monetary base account is managed by a bank or other financial institution wherein the bank records financial transactions with customers.

Bank Account:

We pay for all our purchases with a debit card or cash from an ATM. I rarely pay for things with a check. I can take money out of one of my certificates of deposit because I need it in an emergency.

We want to be a physicist and plan to study physics at Harvard University.
Although I have two savings deposits and one savings account, I may not have enough money set aside to pay for my tuition.
As a result, I'll most likely need to borrow money from my bank for a student loan.
My term deposit, on the other hand, has enough cash to cover our everyday needs.
The bounced check has been written but cannot be paid because of a lack of money.
The person may, for example, submit an account to cover a credit card debt, yet his or her bank account may not have adequate funds to cover the payment.
I'll try to remember a rough figure of the money in my account to avoid checks bouncing.
I'll also pay my share in cash or through a debit card whenever feasible.

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