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AssignmentMultiple Choice

Banking: How to Manage Your Money

Question 1 • * HSA 26-27 Economics

Lupe is a student who wants to open a bank account.Which type of bank is most likely the best option for her needs?

Answer
A
a retail bank
B
a savings and loan
C
a commercial bank
D
an investment bank

Explanation

A retail bank is designed to serve individual customers like Lupe, offering everyday services such as checking and savings accounts. A commercial bank mainly serves businesses, while an investment bank focuses on financial services such as raising funds and trading securities.

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