Question

On his 10th birthday, Arjun’s grandmother takes him to the bank to start a savings bank
account for him.

a. List the advantages of a demand deposit?
b. List the values imparted by this gesture?

Answer 1

a. Demand deposits has its own merits. One do not want to give prior notice to the bank during withdrawals. Also, one need not pay penalty during the withdrawal of money. It is kind of savings.

b. Planning for future, Deed for secure future.
His grandmother understood the importance of savings.

Answer 2

Answer:

Explanation: Demand deposits has its own merits. One do not want to give prior notice to the bank during withdrawals. Also, one need not pay penalty during the withdrawal of money. It is kind of savings.

b. Planning for future, Deed for secure future.

His grandmother understood the importance of savings.