HELP ASAPPPP PLEASE
Frugala immediately sends Sylvestor to
the bank with his bonus check. There he
places all $10,000 in a savings account,
promising himself not to settle for an
interest rate of 2.9 percent for long. The
bank’s financial adviser suggests that
Sylvestor consider certificates of deposit
or possibly mutual funds, and Frugala
suggests that he buy more life insurance.
1. What financial intermediaries does
Sylvestor use or consider using?
2. Where would Sylvestor go to talk to a
stockbroker?
3. If Sylvestor waits a year, how much
money will he have available to invest?