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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".

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