Question

1. lamars employer is doing away with paper paychecks in favor of direct deposit. how does this benefit lamar? he will have access to his pay as soon as it hits his checking account on payday. his bank will only charge him a small percentage of his pay for the convenience of using direct deposit. he will only have to wait two days for his money to reach his checking account rather than the five days it took for his paper paychecks. he will have access to his pay just one business day after it is transferred into his checking account.

Explanation:

Direct deposit allows Lamar immediate access to his pay on payday without the delay of waiting for paper - checks to clear. It also reduces the time he has to wait for the funds to be available in his account compared to paper checks.

Answer:

He will have access to his pay as soon as it hits his checking account on payday. He will only have to wait two days for his money to reach his checking account rather than the five days it took for his paper paychecks.