Money that you put into your bank account is known as a ____.

Money that you put into your bank account is known as a ____.

• A. Interest payment
• B. Withdrawal
• C. Deposit
• D. Balance

Answer: (C)

The appropriate term for money that you place into your bank account is "deposit." When a person deposits money, they are adding funds to their account, which increases the account's balance. This action reflects a transaction where the bank receives the money and holds it for the account holder. Interest payments refer to the additional money earned on the deposits held in the bank over time, typically calculated as a percentage of the deposited amount. Withdrawals involve taking money out of the account, which decreases the balance. The balance itself is simply the total amount of money available in the account at any given time. Thus, "deposit" is the correct term to denote the action of adding funds to a bank account.

The appropriate term for money that you place into your bank account is "deposit." When a person deposits money, they are adding funds to their account, which increases the account's balance. This action reflects a transaction where the bank receives the money and holds it for the account holder.

Interest payments refer to the additional money earned on the deposits held in the bank over time, typically calculated as a percentage of the deposited amount. Withdrawals involve taking money out of the account, which decreases the balance. The balance itself is simply the total amount of money available in the account at any given time. Thus, "deposit" is the correct term to denote the action of adding funds to a bank account.