Which of the Following Is Correct About Wire Transfer of Funds

question 27

Multiple Choice

Which of the following is correct about wire transfer of funds, given that wire transfer saves three days, the annual interest rate is 6 percent, and the cost of wire transfer is $20?

• A)wire transfers should be preferred for amounts exceeding $2,400
• B)depository transfer cheques should be preferred for amounts under $121,667
• C)wire transfers should be preferred for amounts exceeding $40,556
• D)depository transfers should be preferred for amounts exceeding $121,667

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Definitions:

Biological Drives

Innate impulses originating from biological needs that motivate behavior, such as hunger, thirst, and the drive for sexual reproduction.

Superiority

A belief or state in which someone sees themselves as better than others in some way.

Repression

A defense mechanism where unpleasant thoughts, memories, or feelings are unconsciously excluded from consciousness.

Unpleasant Memory

A recollection of past events or experiences that evoke negative emotions, such as sadness, fear, or trauma.