From 1959 until the Financial Crisis started in 2007, households significantly reduced the amount of money they held in checking accounts (from over 20 percent of income to about 2 percent) compared to currency (fairly steady around 5 percent). What factor(s) most likely contributed to the decline in money held in checking accounts?

(A) Interest rates increased a lot for much of that period

(B) Households began to pay for things with other forms of payment like credit cards

(C) Financial market products became more sophisticated and available to more households

(D) Information technology increased dramatically and made it easier to manage holdings of money versus other assets

(E) All of the above

Please show work