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Business, 29.07.2019 21:40 mayamcmillan11

Acomparison of an interest-bearing checking account and a savings account reveals that: while a now account pays interest, a savings account does not. a now account must be held to maturity, while funds in a savings account are available on demand. deposits in checking accounts are technically demand deposits, but deposits in savings accounts are time deposits. interest earned on now accounts is tax deductible, while interest earned on passbook savings accounts is taxable income.

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