Asked by Katherine Fortune on Apr 29, 2024
Verified
Savings banks were originally established to make __________ loans.
A) home mortgage
B) business
C) agricultural
D) automobile
Home Mortgage Loans
Loans provided by financial institutions to individuals for the purpose of purchasing residential properties, secured by the property itself.
Savings Banks
Financial institutions primarily engaged in accepting savings deposits and making loans and other investments.
- Acquire knowledge about the structure and aims of different monetary institutions.
Verified Answer
KS
Kalyn SchmidtMay 02, 2024
Final Answer :
A
Explanation :
Savings banks were originally established to make home mortgage loans, providing a means for individuals to purchase homes by saving and borrowing.
Learning Objectives
- Acquire knowledge about the structure and aims of different monetary institutions.
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