Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Finance companies make a profit by borrowing money at a rate lower than the rate at which they lend.This is similar to a commercial bank,
Finance companies make a profit by borrowing money at a rate lower than the rate at which they lend.This is similar to a commercial bank, with the primary difference being the source of funds, principally deposits for a bank and money and capital market borrowing for a finance company.
Please assist with response to discussion comment
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started