Go to the official website of the following banks: 1_Royal Bank of Canada

1. Go to the official website of the following banks:
1_Royal Bank of Canada
2_CIBC. canada
3_Bank of Montreal
4_HSBC Bank Canada
a. Find the interest rates these banks pay on (i) saving deposits; and (ii) certificate of
deposit (CD). Which bank pays the highest interest rate on the deposits they accept?
Report the interest rates according to term to maturity.
b. Find both the variable interest rate and the fixed interest rate that these banks charge
on home equity loan. Which bank charges the lowest interest rate on the home equity
loan? Report the interest rates according to term to maturity.
c. Which bank has the highest profit margin?
2. Chapter 11 of the book discusses the lemons problem and its effect on the efficient
functioning of a market. This theory was initially developed by George Akerlof. Go to
http://www.nobelprize.org/nobel_prizes/economics/laureates/2001/. Click the link to
George A. Akerlof and then to Article. This site provides information on Akerlofs
experience on writing the The Market for Lemons. In your own words, summarize his
research ideas in one page