Question

Which of the following statements are false:_________.

I. Savings Banks may pay higher interest on savings.
II. Commercial Banks include Internet Banks.
III. Credit Unions offer financial services to the public.
IV. Savings and Loan Associations use my deposit to fund mortgages.
V. Savings Banks are located throughout the country, except for Alaska and Hawaii.

Answer 1

I. Saving banks may pay higher interest on savings

II. commercial banks include internet banks

IV. savings and loan association use my deposit to fund mortgages

Step-by-step explanation:

I. A savings bank paying higher interest on savings isn't always true in that the interest rate differs from bank to bank. Therefore, the best time savings bring in some sort of high interest is when the interest rate on saving is high.

II. Commercila banks do not includde internet bank since one of the services of the commercial banks is internet banking. It means that account holders can have access to their accounts ffrom whereever they are as longa s they have an internet enabled device. An internet bank on the other hand is one that has little to no physical presence like commercial banks.

Cheers.