dillbill277
Answered

At Westonci.ca, we make it easy for you to get the answers you need from a community of knowledgeable individuals. Join our platform to connect with experts ready to provide precise answers to your questions in various areas. Connect with a community of professionals ready to provide precise solutions to your questions quickly and accurately.

A for-profit institution that works with the general public to open and manage
savings accounts is known as a(n).
A. commercial bank
B. savings bank
C. credit union
D. investment bank

A Forprofit Institution That Works With The General Public To Open And Manage Savings Accounts Is Known As An A Commercial Bank B Savings Bank C Credit Union D class=

Sagot :

Answer:

B. savings bank

Explanation:

Savings bank is defined as a bank which helps customers or people to invest or deposit in interest giving accounts that will give a long term investment.

Savings bank were started in Europe in the 19th century. Saving banks gives interest on the deposit amount that is why its is a for-profit institution for general public. The interest saving banks give by investing in government and corporate debt.

Hence, the correct answer is "B. savings bank".

Thanks for using our platform. We aim to provide accurate and up-to-date answers to all your queries. Come back soon. We hope our answers were useful. Return anytime for more information and answers to any other questions you have. Keep exploring Westonci.ca for more insightful answers to your questions. We're here to help.