online access to your checking account will show you the current balance. why is it still important to…

online access to your checking account will show you the current balance. why is it still important to maintain a checking account register, record checks and deposits, and calculate the account balance?\nthe online balance does not include bank fees charged or direct deposits made.\nthe online balance does not include checks that have been written but not cashed.\nfinancial institutions often make errors when calculating customer account balances.\nfinancial institutions require you to reconcile your account in order to maintain service.\nwhich will charge the highest interest rate on a short - term loan?\ncommercial bank\ncredit union\npayday lender\nsaving and loan

online access to your checking account will show you the current balance. why is it still important to maintain a checking account register, record checks and deposits, and calculate the account balance?\nthe online balance does not include bank fees charged or direct deposits made.\nthe online balance does not include checks that have been written but not cashed.\nfinancial institutions often make errors when calculating customer account balances.\nfinancial institutions require you to reconcile your account in order to maintain service.\nwhich will charge the highest interest rate on a short - term loan?\ncommercial bank\ncredit union\npayday lender\nsaving and loan

Answer

Brief Explanations:

  1. For the first question, the online balance may not account for checks that have been written but not yet cleared (cashed). This can lead to overdrafts if not tracked in a register. Bank - fees and direct deposits are usually included in online balances, and while institutions may make errors, the main reason for maintaining a register is to account for uncashed checks. Also, there is no general requirement by institutions to reconcile accounts to maintain service.
  2. For the second question, payday lenders are known for charging extremely high - interest rates on short - term loans compared to commercial banks, credit unions, and savings and loan associations. Payday loans are often small, short - term, and high - risk for lenders, which justifies their high rates from their perspective, but they can be very costly for borrowers.

Answer:

  1. The online balance does not include checks that have been written but not cashed.
  2. payday lender