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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
A(n) ____ is a federal-or state-chartered financial institution accepting deposits that it uses to make loans and earn profits.
A
Credit union
B
Mutual Savings Bank
C
Savings and loan association
D
Commercial bank
Explanation: 

Detailed explanation-1: -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.

Detailed explanation-2: -Financial Institutions Commercial Bank: Federal-or state-chartered financial institution accepting deposits that it uses to make loans and earn profits.

Detailed explanation-3: -A commercial bank is a financial institution that accepts deposits, offers checking and savings account services, and makes loans.

Detailed explanation-4: -Financial institutions eligible to receive public deposits include savings associations, commercial banks, trust companies, credit unions and industrial loan and thrift companies.

Detailed explanation-5: -A commercial bank is a profit based financial institution that grants loans, accepts deposits and offers other financial services such as overdraft facility and electronic transfer of funds. It provides short term loans to business and creates money.

There is 1 question to complete.