What is the major source of income for financial institutions?
a. deposits made by individuals
c. interest from loans made
b. membership fees
d. none of the above

c. interest from loans made.

Explanation:

The most important source of income for financial institutions is the interest they make from loans. The interests include those received on various loans and advances to industries, corporates and individuals. When you borrow money from a financial institution, the institution establishes an interest rate, which is a compensation for the amount of time that you keep the money. As time passes, the money paid in interest accumulates, even when the debt remains the same.

no, dan should reduce his discretionary spending. not long-term goals involve more planning than short-term goals do

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