Question

Sona, Mona, Roma and Donna visited a nearby bank to open a bank account. Since they were totally unaware of the different types of bank accounts, they requested the relationship manager at the bank to give them an insight into the different types of bank accounts options available with the bank. Being an experienced person the relationship manager, first enquired about their specific requirements.

Mona shared that she has received cash prize of 10000 that she would like to place in an account which offers high rate of interest. She also mentioned that she does not need to withdraw this money before 5 years.

Roma said, she has started earning money through tuitions and would like to place her savings in an account.

Donna told the manager that she has got her business registered with an e-commerce company and most of your business transactions will now be routed through the bank. Sona expressed her desire to deposit 500 from her pocket money in an account every month for the next 2 years to buy a designer lehenga for her sister's wedding. Identify and explain the different types of bank accounts been described in the above paragraph. Also, quote the relevant lines.​

Answer 1

Answer:

$HARDWORK OF WRITING DOWN TO DRAIN NOW.$