Every month, Carlos deposits $300 into an interest-bearing account managed by his broker, Megan. Megan pools the funds in Carlos’s account with funds from the accounts of other clients and invests them in short-term securities. Which statement is also true about this situation?
a. This is an example of a savings deposit account.
b. This is an example of a demand deposit account.
c. Carlos is allowed to write checks against his account, within certain limitations.
d. Due to the account type, the funds Carlos has deposited have a low level of liquidity.
c. Carlos is allowed to write checks against his account, within certain limitations.
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