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First Simple Bank pays 9.3 percent simple interest on its investment accounts. First Complex Bank pays interest on its accounts compounded annually.
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What rate should the bank set if it wants to match First Simple Bank over an investment horizon of 13 years? (Round your answer as directed, but do not use rounded numbers in intermediate calculations. Enter your answer as a percent rounded to 2 decimal places (e.g., 32.16).)
What can a financial institution often do for a surplus economic unit that it would have difficulty doing for itself if the surplus economic unit (SEU) were to deal directly with a deficit economic unit (DEU)?
If the voting procedure is cumulative, what number of shares is necessary to ensure your election to the board? Is it possible for you to be elected with fewer votes? Explain.
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Describe a situation where somebody may need a mortgage, find a specific mortgage product, and describe why the mortgage might be a good fit for the potential borrower's situation. Please take the opportunity to have fun in finance.
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