Define bank rate and prime rate of interest, Business Management

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Define bank rate and prime rate of interest

Problem

Review the following terms: a) define each term and b) share how they are related

i. Define credit and debit cards. Then explain if they are part of M1 or M2 money supply and why they are a part of M1 or M2.

ii. Define bank rate and prime rate of interest. Explain how they are different.

iii. Define pension funds and trust companies. Explain how they are different.

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