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3 years ago

What is the primary role of our banking system?

Business

2 answers:

Serhud [2]3 years ago

6 0

Answer:

See explanation section

Explanation:

The primary role of the banking system is to accept deposits from the general public so that the money can be given as a loan to the public in an effective way to foster the economy. It is the safest platform where people keep their money to get a bonus while people borrow money to continue operating.

svetlana [45]3 years ago

3 0

Answer:

The primary role of our banking system are discussed below.

Explanation:

The primary role of our banking system

The main functions of the banking system or banks are to deposit and lending loans.
The central bank is the head of all the banks or could say the father of all other banks.
The central bank plays a leading role in the banking system it organizes, runs, supervises, regulates and develops the banking system of the country.

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3 years ago

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Answer:

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3 years ago

As a gift from your parents, you just received $50,000 for your education. You can earn an annual rate of 8% on your investments

VashaNatasha [74]

Answer:

annual withdrawal = $15096.04

Explanation:

given data

present value = $50,000

annual rate = 8%

time = 4 year

to find out

How much can you withdraw each year

solution

we find here annual withdrawal amount that is express as

annual withdrawal = $\frac{present\ value}{\frac{1-(1+r)^{-t}}{r}}$ ................1

here r is rate and t is time

so put here value we get

annual withdrawal = $\frac{50000}{\frac{1-(1+0.08)^{-4}}{0.08}}$

annual withdrawal = $\frac{50000}{3.31212}$

annual withdrawal = $15096.04

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