d. Rand Capital, a financial industry conglomerate, pools together several hundred home mortgages and sells shares in\ them to groups of investors. However, many investors decide against this option because of the risk involved and the\ difficulty of assessing the quality of such a large number of individual mortgages. Rand Capital is\ e. Jack decides to build a chateau in the mountains of Colorado and operate it as a ski resort. He secures funding from a\ local commercial bank after discussing his business plan with the bank. He promises to pay back the principal plus interest\ over the next 20 years. Jack is

d. Rand Capital, a financial industry conglomerate, pools together several hundred home mortgages and sells shares in them to groups of investors. However, many investors decide against this option because of the risk involved and the difficulty of assessing the quality of such a large number of individual mortgages. Rand Capital is e. Jack decides to build a chateau in the mountains of Colorado and operate it as a ski resort. He secures funding from a local commercial bank after discussing his business plan with the bank. He promises to pay back the principal plus interest over the next 20 years. Jack is