financial literacy question

Mathematics
Tutor: None Selected Time limit: 1 Day

 With the wide availability of the Internet, many financial institutions are exclusively online. These Internet-only banks can usually offer higher rates on interest-bearing accounts than traditional, brick-and-mortar banks. Why do you think Internet exclusivity translates to higher rates on interest-bearing accounts?

Jun 10th, 2015

Thank you for the opportunity to help you with your question!

it goes under supply and demand, since these online bans are growing at fast rate, more people are coming to their service, which puts down the demand for the brick and mortar banks. Thus the online bank s have the ability to charge higher ate knowing that it will not hinder the number of customers coming in

Please let me know if you need any clarification. I'm always happy to answer your questions.
Jun 10th, 2015

Did you know? You can earn $20 for every friend you invite to Studypool!
Click here to
Refer a Friend
...
Jun 10th, 2015
...
Jun 10th, 2015
Dec 6th, 2016
check_circle
Mark as Final Answer
check_circle
Unmark as Final Answer
check_circle
Final Answer

Secure Information

Content will be erased after question is completed.

check_circle
Final Answer