ECONOMICS
MONEY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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a bank
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an insurance company
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a paycheck cashing company
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a loan shark
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Detailed explanation-1: -A commercial bank is a financial institution that accepts deposits, offers checking and savings account services, and makes loans.
Detailed explanation-2: -A credit union is a not-for-profit financial institution that accepts deposits, make loans, and provides a wide array of other financial services and products.
Detailed explanation-3: -Banks, including co-operative banks, can accept deposits.
Detailed explanation-4: -A commercial bank is a financial institution which performs the functions of accepting deposits from the general public and giving loans for investment with the aim of earning profits. Q.
Detailed explanation-5: -There are three major types of depository institutions in the United States. They are commercial banks, thrifts (which include savings and loan associations and savings banks) and credit unions.