Lila deposits her earnings from teaching children in a bank account. She has the peace of mind that her money will remain safe in the bank. She does not receive any interest from her savings account. She feels that transferring money through checks is unsafe. So she withdraws cash when she wants to lend money to someone.

Question

Quinten Parrish

Mathematics

8 February, 04:43

Lila deposits her earnings from teaching children in a bank account. She has the peace of mind that her money will remain safe in the bank. She does not receive any interest from her savings account. She feels that transferring money through checks is unsafe. So she withdraws cash when she wants to lend money to someone.

+1

Answers (1)

Know the Answer?

Calvin · Answer 1

Answer: Lila is incorrect about transferring money through checks.

Step-by-step explanation: If Lila transfers money through checks then she is adding money to her bank account funds and increasing her interests if she leaves the money there for a while.