(a)Explain the importance and vital role commercial banks play in any economy.

(b)List numerous ways banks can innovate to come to help to local businesses.

(c)Suggest how banks can use different schemes of Simple Interest and Compound Interest to give incentives to their customers to place their surplus money with the banks.

(d)Explain the difference between APR and EAR and how different schemes of the use of both could boost savings; and

(e)Explain the difference between Ordinary and Due Annuity and their possible attractiveness to encourage long term savings.