BNAD 100 Lecture Notes - Lecture 9: Corporate Finance, Financial Statement, Mutual Fund

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Document Summary

Manages money for individuals, companies, governments and other institutions. Made up of companies that manage money for individuals, companies, governments and other institutions. Financial services industry represents 7. 2% of u. s. gdp (2015) Over 6 million people in the u. s. work in financial services. A for profit company that offers financial services to the general public and. Bank facilitates customer"s transactions (debit card, credit card, bill pay) Chase bank has ,000 in customer deposits and pays 1% annual interest to customers. The bank loans ,000 to other people and charges 5% interest. 1% of ,000 is which they lose, and 5% of ,000 is , so - is . Bank of america, chase, citibank, wells fargo. Gives loans at cheaper interest rates local/regional. Proportion of a loan that is charges as interest to the borrower, typically expressed as an annual percentage of the loan outstanding. People join together to loan money for a business idea.

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