You as a bank officer, assist Mr. Daniel on following queries pertaining deposit account issues:

(i) What are the major differences between saving account and current account? Explain to Mr. Daniel the differences. (6 marks)

(ii) Mr. Daniel has decided to open a current account. Advise Mr. Daniel the preparation to open a current account. (5 marks)

(iii) If Mr. Daniel placed RM50,000 for time deposit on 01/08/2020 at annual interest 4.5 percent for a month. How much the interest amount? (3 marks)

(iv) Based on calculation on (iii) above, if the time deposit and interest rolled over for September at 4.75 percent p.a, recalculate the new interest earn by Mr. Daniel. (3 marks)