The Difference Between a Bank and a Trust Company Is

question 55

True/False

The difference between a bank and a trust company is that the trust company can provide estate planning and administrative services.

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Definitions:

Bond Fund

A mutual fund that invests primarily in bonds and other debt securities to generate returns.

Ordinary Annuity

A series of equal payments made at regular intervals, with the interest compounding period matching the payment period, such as annually.

Expressed

Articulated or conveyed in words, symbols, or in another explicit manner.

Years

Units of time equal to 365 days (or 366 in a leap year), used as a measure of time duration or age.