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zepelin [54]
3 years ago
5

Miranda runs a small backyard horse boarding stable. When her truck broke down and needed to be replaced, she went to the bank t

o take out a home equity loan, which allowed her to borrow money against the appraised value of her home. Which type of bank would Miranda most likely go to for this type of loan?A. a commercial bankB. a mutual savings bankC. an independent savings bankD. a credit unionE. a savings and loan association
Business
1 answer:
Over [174]3 years ago
4 0

Answer:

A. A commercial bank

Explanation:

Commercial banks are financial institutions accept deposits and provide security and convenience to their customers. They also provide loans to individuals and businesses. Commercial bank is a place where people do most of their banking. The main method in which commercial banks earn money is through the provision of loan. They earn money from these loans through what is known as interest. In this case, Miranda needs s loan for her business in order to buy a new truck. The commercial bank is a place she can get a loan in that context.

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