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Q3. a) what are the differences between commercial banks and finance companies? b) discuss the importance of financial intermediation in today's competitive financial markets. c)

Q3. a) what are the differences between commercial banks and finance companies?

b) discuss the importance of financial intermediation in today's competitive financial markets.

c) what are the differences between primary and secondary financial markets? why is the existance of well-developed secondary markets important to the functioning of the primary markets with the financial system?

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