Answer: b. $159.73
Explanation: At the end of the twenty years, Janice would have approximately $159.73 more than Kate. To solve for this, we calculate the future value of the money saved over the time period for both Janice and Kate, and then take the difference to arrive at the correct answer.
Future Value for Janice = $80 ×{[1 + (.055 / 12)]^240 - 1} / (.055 / 12) × [1 + (.055 / 12)] = $35,009.92
Future Value for Kate = $80 ×{[1 + (.055 / 12)]^240 - 1} / (.055 / 12) = $34,850.19
Difference = $35,009.92 - $34,850.19 = $159.73
Answer:
C. financial intermediation.
Explanation:
The financial intermediary is a process in which the bank or other financial institutions provides a service of helping to save or borrow money.
A financial intermediary also helps in facilitating the diverse needs of lenders and borrowers
The funds are raised from people who wants to deposit the money.
The answer to this is B transaction processing system