3. A transactional deposit account held at a financial institution that allows for withdrawals and deposits. Money held in a checking accountย is very liquid, and can be withdrawn using checks, automated cash machines and electronic debits, among other methods.ย ย A checking account differs from other bank accounts in that it often allows for numerous withdrawals and unlimited deposits, whereas savings accounts sometimes limit both. Checking accounts can include business accounts, student accounts and joint accounts along with many other types of accounts which offer similar features. CHECKING ACCOUNTS
4. Aย debt instrument that isย secured by the collateral of specified real estate property andย thatย the borrower is obliged to pay back with aย predetermined set of payments. Mortgages are used by individuals and businesses to make large purchases of real estate without paying the entire value of the purchase up front.Mortgages are also known as "liensย against property" or "claims on property". MORTGAGES
5. Short- or medium-term, interest-bearing, FDIC-insured debt instrument offered by banks and savings and loans. offer higher rates of return than most comparable investments, in exchange for tying up invested money for the duration of the certificate's maturity. Money removed before maturity is subject to a penalty. CDs- are low risk, low return investments, and are also known as "time deposits", because the account holder has agreed to keep the money in the account for a specified amount of time, anywhere from three months to six year. CERTIFICATES OF DEPOSITES
![[object Object],The other major types of deposit account are transactional (checking) account, money market account time deposit. SAVING ACCOUNTS](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)