Why might people choose to save their money in a commercial bank when another type of financial

Question:

Why might people choose to save their money in a commercial bank when another type of financial institution offers a higher interest rate?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Managing Your Personal Finances

ISBN: 9781305076815

7th Edition

Authors: Joan S. Ryan, Christie Ryan

See More Books

Question Posted: Jun 12, 2024 10:11 AM

See More Questions

Assuming Target Population B is 500,000, what is the ideal sample size with a confidence interval of 5 at a 95% confidence rate
Why is it important for us to understand how the global system of financial institutions and markets works? ros57395_ch01.qxd 12/21/04 2:45 PM Page 1 Part 1 The Global Financial System in Perspective...
Chapter 7:7.2 #2 (p. 168) Chapter 8:8.2 #3 (p. 205) Chapter 9:9.2 #1 (p. 225) a., b., and c. (for c., only answer the adjustable rate mortgage part Chapter 7 from Personal Finance was adapted by The...
In buck-boost converter, the duty ratio is adjusted to regulate the output voltage Vo at 30 V. The input voltage varies in a wide range from 30 to 50 V. The output power is 100 W. The inductor L =...
Lorne is considering working for Part-Time Painters. He would operate as an independent painter, but the jobs would be given to him by the company. In the companys advertisements, $100 would be...
A group of new business graduates is about to embark on a new business adventure. They want to sell personalized embroidery T-shirts online. Manuel was an accounting student and obviously he was left...
Why do companies use public relations as part of their IMC strategy?
When a soccer ball is kicked toward a player and the player deflects the ball by "heading" it, the acceleration of the head during the collision can be significant. Figure 2-38 gives the measured...
Type your answer in the box. Purchases were $2,000, purchases returns and allowances were $600, purchases discounts were $28, and freight in was $125. The net delivered cost of purchases equals $ (Do...
Describe ways to make regular saving easier. What does discretionary income have to do with saving?
Define the concept of liquidity, and explain why it is important when choosing a savings account or plan.
Let F = 2zi + 2yk, and let S be the intersection of the cylinder x2 + y2 = ay with the hemisphere a > 0. Assuming distance in meters and force in newtons, find the work done by the force F in moving...
Assume that John wants to annuitize the annuity and is told that he can receive a straight life annuity for $600 a month for life. If the actuarial number of payments is 300, how much of the first...
An epidemiologist plans to conduct a survey to estimate the percentage of women who give birth. How many women must be surveyed in order to be 90% confident that the estimated percentage is in error...
Your homework for this week is to watch the first lecture on Financial Accounting and at the end of the outline there are several problems for you to do. The problems begin with parts A-D for you to...
Sheril Rose was a brilliant but penniless material scientist. She had designed a new type of solar panel she believed had great commercial potential. On January 15, she approached Felda Higgins, a...
IAS 23 requires companies to capitalize borrowing costs directly attributable to the acquisition, construction or production of an asset into the cost of an asset.Previously, accounting standard...
Your uncle has given you three alternatives for your inheritance. You can have $5,000 now; $1,000 per year (at the end of each year) for the next eight years; or $12,000 at the end of eight years....
Choose a company from the SEC EDGAR Web site for your Key Assignment to evaluate for the impact of convergence to IFRS. Review the financial reports and notes of the company you have chosen from the...
Kirk and Spock formed the Enterprise Company in 2010 as equal owners. Kirk contributed land held an investment ($50,000 basis; $100,000 FMV), and Spock contributed $100,000 cash. The land was used in...
Pedro lives in Puerto Rico and had a net taxable income of $35,000 for the year 20X1. Your gross income totals $60,000. What is Pedro's regular income tax for 20X1? a.$4,620 b.$4,900 c.$2,318 d.$2,520
The change in cash is equal to the change in liabilities less the change in equity plus the change in noncash assets. O True False

Why might people choose to save their money in a commercial bank when another type of financial

Question:

Step by Step Answer:

Managing Your Personal Finances

Students also viewed these Business questions