23.Which of the following are considered depository institutions? a. Insurance companies b. Mutual funds c. Commercial banks d. All of the above 24. are distinguished by their common bond membership requirement a. Brokerage firms b. Life insurance companies c. Commercial banks d. Credit unions 25. The real rate of return measures the reward to investors for forgoing current consumption (assuming no inflation and no risk involved). a. True b. False 26. When the Federal Reserve sells government bonds, the money supply increases. a. True b. False 27. Mr. Layler invests $5,000 in a certificate of deposit at his local bank. He receives annual interest of 6% for 4 years. How much money will be in his account at the end of this time period (assuming annual compounding)? Choose the closest number. a. $7, 915 b. $6,254 c. $6,312 d. $7,578 28. Mr. Jogger wants to save up to $2,788 to buy a Dell personal computer four years later. He would like to set aside an equal amount at the end of each year in order to accumulate the amount needed. He can earn 7% annual return. How much should he set aside each year (assuming annual compounding)? Choose the closest number. a. $697 b. $732 c. $823 d. $628 29. Mr. Catte wants to build a house in 10 years. He estimates that the total cost will be $170,000. If he can put aside $10,000 at the end of each year, what rate of return must he earn in order to have the amount needed (assuming annual compounding)? a. Between 890 and 990 b. Between 11% and 12% c. Between 16% and 17% d. none of the above