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Juli2301 [7.4K]
3 years ago
15

What is a purpose of a financial institution?

Mathematics
2 answers:
yaroslaw [1]3 years ago
8 0

Answer:

  D.  lending money

Step-by-step explanation:

It depends on the institution. A "for profit" financial institution has the purpose of <em>making money for its investors</em>. To do that, it offers a variety of money-oriented services, some involving payments to customers (interest) and some involving charging customers for the service (fees or interest).

A service offered in the latter category is "lending money."

__

A "not for profit" financial institution has the purpose of <em>providing financial services to its members</em>. Again, some of these services may involve payments to customers, and others may involve collecting interest or fees from customers. These institutions, too, offer the service of "lending money."

__

Among the services a financial institution may offer that do not involve lending money are ...

  • checking accounts
  • safe deposit boxes
  • notary service
  • brokerage service
harkovskaia [24]3 years ago
3 0

Answer:

B

Step-by-step explanation:

Giving away money because individuals loan dollars to other entitles at a a cost

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