Activity 3: Deciding Among the Tools of Monetary Asset Management

Addo Laamin earns 42,000 per month take-home pay and has the funds directly deposited in his

checking account. He spends only about 23,500 per month, and the excess funds have been

building up in his account for about one year.

(a) What other types of accounts are available to Addo?

(b) How might he manage his accounts to earn as much interest as possible and keep his money

safe?

(c) How might he use electronic money management to accomplish these tasks?