Certificate of Deposit

Archive for January, 2008

Question: economics help.?

question 1.
if you put your money in a Certificate Of Deposit, you are using it as a…
a) medium of exchange.
b) store of value
c) unit of accounting
d) commodity

question 2.
an ATM can recieve deposits, give out funds, accept payments, and…
a) make loans.
b) transfer funds between accounts.
c) cash checks.
d) provide credit ratings.

please choose the correct answer and if you dont know its ok just tell me you dont know and ull be able to get ur 2 pnts like that! lol
just dont confuse me..
thank u

Answer: Question 1.

B.

Question 2.

B.

ATMs do not make loans. They provide access to your account. Nor can they cash a check. You may deposit your check into an ATM machine but it does not “cash” your check. Credit ratings are provide by credit agencies not ATMs.

Question: I co-signed a personal loan for an automobile. As collateral I used a Certificate Of Deposit.?

What recourse do I have if the person I co-signed for, defaults on the loan? Can I put a lien on the car title? What other options do I have? I live in Pa.

Answer: None.

The lender has the lien.

If you have a written side contract you could sue them but if they don’t pay their car note are they really going to pay a judgment ?

You got what you signed up for…all of the downside with no upside.

If you had demanded ahead of time to be put down as 2nd lienholder that would have given you some protection. Then again, the lender might not have agreed to that.

The only way to take possession as 2nd lienholder would have been to pay off the first lienholder, then get the title and then you could repo the car. (Assuming you have a valid contract giving yourself that right)

Money market funds provide businesses, financial institutions and governments with short term cash equivalents or financing. People are always looking for top money market rates, best money market rates or highest money market rates. You see banks and financial institutions advertise their best Money Market Accounts to attract customers all the time. There are business Money Market Accounts as well as individual Money Market Accounts. People believe Money Market Accounts are the safest investment accounts so finding the best and top money market rates is their top priority.

Define money market account

A money market account is basically a cash account or fixed income account where you put money into a money market fund and earn a small amount of interest. However, your money is not locked into the money market fund, unlike other fixed income investments and certificates of deposit. You can liquidate the money market funds or accounts any time. Since a money market account is very liquid, the best money market interest rates are still low compared to other fixed income returns.

What are money market funds?

Money market funds are fixed income with short term maturities. The maturity of a money market fund is usually one year or less but if you sell the money market fund today, you are not likely to lose anything. Money market funds are considered the most liquid and safest of all investments, even more so than certificates of deposit.

Treasury bills that trade in the secondary market are examples of money market funds issued by the US government. Treasury bills are considered the safest money market funds but they do not have the top money market rates or best money market rates by any means.

How to find the best money market rates and accounts?

In order to find the top money market rates, you just have to call all banks and finance institutions to see what their highest and best money market rates are. Some Money Market Accounts come with highest money market rates but require a high minimum investments.

• CD and Money Market
• What is Money Market?
• Benefits of Money Market Accounts