Final answer:
Checking accounts provide high liquidity for frequent transactions, offering easy access to funds without high interest rates.
Explanation:
A checking account is the type of account that Brad likely has. Checking accounts offer high liquidity, allowing for frequent transactions through various means like writing checks or using a debit card.
Checking accounts typically do not pay high interest rates but provide easy access to funds, making them suitable for everyday transactions.
The blurred lines between checking and savings accounts in recent years have led to checking accounts offering interest rates similar to savings accounts under certain conditions.
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