Embezzlement also meaning stealing another's funds
TD Ameritrade is an example of a brokerage firm, a type of non depository financial institution.
<h3>What are financial institution?</h3>
Financial institution is referred as statutory body which helps in dealing with the financial transactions which includes withdrawing and depositing of money, allowing loans and helping in exchange for the currency.
A brokerage business is a location where stock buyers and sellers can exchange. The company serves as a mediator between buyers and sellers and offers an open trade environment.
This brokerage helps to crack the best deal for their clients. They help to negotiate to get the best resources for business and achieve profit.
Therefore, TD Ameritrade shows the example of brokerage firm.
Learn more about financial institution, here:
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The future amount of an investment with compound interest can be calculated through the equation,
F = P x (1 + ieff)^n
where F is the future amount, P is the current value of the money, ieff is the effective interest (rate per year), and n is the number of years.
From the equation, all are given except for the effective interest, i. Now, substituting the known values,
14,398.87 = (7,775) x (1 + ieff)^14
The value of ieff from the equation is 0.044999.
Since the value of the ieff when translated to percentage is equal to 4.5% as well, the interest rate is compounded yearly.
The answer is true. Hope this helps.
