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What are some advantages and disadvantages to paying with checks?

Advantages and Disadvantages of Paying with Checks

Paying with checks is a popular method of payment that provides convenience and safety, but also comes with some drawbacks. Checks are a secure form of payment that offer buyers and sellers certain benefits and protections. Additionally, checks can provide a record of payment for both parties involved. On the other hand, checks can be subject to fraud and take time to clear, which can cause delays in payment.

Benefits of Paying with Checks

Paying with checks can offer convenience and security to buyers and sellers. Checks are a secure form of payment, as they require a signature and other identification information. This information helps to ensure that the payment is from a legitimate source. Additionally, checks can provide a record of payment for both parties involved, which is especially beneficial for buyers as it can be used to track their purchases.

Drawbacks of Paying with Checks

Although paying with checks can provide convenience and security, it is also subject to certain drawbacks. Checks can take time to clear, which can cause delays in payment. Additionally, checks are susceptible to fraud, such as forged signatures and incorrect information. As a result, buyers and sellers should be aware of the risks associated with paying with checks.

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The Jaguar Bank of Indianapolis (JBI) starts operations on January 1, 2022 issuing equity amounting $100. JBI advertises an annual interest of 4% for its savings deposits, paid annually, and free checking accounts (i.e., no maintenance fee). On the first day of operations, JBI receives a total of $150 as checking deposits and $750 as savings deposits. The bank lends $700 for an annual interest rate of 8%. It purchases treasury bonds worth $150 which earns 5% per annum. JBI maintains $100 at the Fed and keeps the remaining liquidity in cash reserves. Federal Reserve pays 4.5% interest on JBI’s reserve account. However, JBI does not pay interest on checking accounts of its customers. JBI’s operational expenses during its first year of operations is $18 and the corporate tax rate is 25%. Shareholders of JBI receive 10% dividends. A customer withdraws $170 from her savings account. To pay that amount back, the Bank sells its Bonds portfolio for $120 making a loss of $30 and withdraw another $50 from the account at Fed. Find the following. Find total liabilities

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