Why businessmen prefer current bank account
Describe why businessmen mostly wish to open current account in bank?
Expert
The businessmen mostly wish to open current account in the bank since the deposits in current accounts are payable on demand. It can be drawn upon by cheque without any limit. The banks propose overdraft facility on such deposits to business men.
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Task 1 – Commercial banks in United Economy have total deposits of AED 300 billion. Their reserves are AED 15 billion, two- thirds of which are with the Central Bank as deposits. There are AED 30 billion notes outside the banks. There are no coins! Calculate- a) The monetary base. b) The bank
I help with part 2 and the 4 part question.
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