You go to the bank and deposit $1,000. You are told that you will receive 1.5% interest. The bank loans out your money to borrowers at a rate of 5.75%. A year later, how much money has the bank made on your money?
A) $15
B) $57.50
C) $72.50
D) $42.50
Correct Answer:
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Q1: The three major pillars of the financial
Q2: One of the important tasks that banks
Q3: Which of the following tasks are performed
Q4: A bank can make money by:
A)storing and
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Q7: You go to the bank and deposit
Q8: You go to the bank and deposit
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A)finding out the
Q10: You use your bank debit card to
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A)provide payment services.
B)assess
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