The Rapid Spread of ATMs

question 318

Multiple Choice

The rapid spread of ATMs

• A)dramatically reduced employment of bank tellers, and demand remains low because ATMs serve the same functions as bank tellers.
• B)has resulted in the closure of many bank branches and led to a long-term decline in employment of bank tellers.
• C)reduced the demand for bank tellers initially, but eventually tellers took on tasks that ATMs are not suited to handle.
• D)has had no discernible impact on the demand for bank tellers.

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Definitions:

Effective Yield

This is the total yield on an investment expressed on an annual basis, taking into account the compounding of interest.

Interest Rate

The annual rate at which interest is charged to the borrower, represented as a percentage of the still unresolved loan amount.

Payment Stream

A sequence of payments made over time, often associated with loans or investments.

Effective Yield

A measure of the return on an investment, taking into account the effect of compounding interest.