If the balance on either a super NOW account or a money market deposit account falls below a specified level,the account generally earns interest at the lower rate paid on a regular NOW account.

Question

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This statement is true. Most financial institutions offer tiered interest rates on their deposit accounts. If the balance falls below a certain level, it may earn interest at a lower rate, which is usually equivalent to the rate paid on a regular NOW (Negotiable Order of Withdrawal) account. This is done to encourage customers to maintain a minimum balance in their accounts.

If the Balance on Either a Super NOW Account or a Money