Vocabulary --> Financing and Budgeting --> Banking --> Word to practice


Choose the word or phrase that best completes the blanks:

Dear Customer,
Our records show that you qualify for our new automatic mortgage payment plan. Under this plan, your monthly mortgage payments (1)............... from your savings account automatically. Now you no longer have to worry about making your payments on time! We do it all for you. You must maintain a sufficient (2)............... in your account to cover the monthly payments. If you are interested in participating in this plan, simply complete the enclosed form. Certain (3)............... apply to this plan, so read the explanation on the back of the form carefully. You may return the form in the enclosed envelope. Don't forget to sign it at the bottom. Your automatic deductions could begin as early as next month.


1.
A. deducted
B. are deducted
C. deduct
D. are deducting
Explain:


2.
A. balance
B. dividend
C. transaction
D. down payment
Explain:


3.
A. restricts
B. restrictive
C. restrictions
D. restricted
Explain:
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