Nick Rodr gets a loan from the First State Bank of Guthrie to purchase a new refrigerator for his condo.What service that a bank provides is he taking advantage of?
A)Risky arbitrage services
B)Liquidity services
C)Delegated monitoring services
D)Divisibility of money services
E)Credit services

Question

Quizplus · Accepted Answer

Nick Rodr is taking advantage of the credit services offered by the First State Bank of Guthrie by obtaining a loan to purchase a new refrigerator for his condo. With credit services, the bank provides loans and credit to individuals or businesses, allowing them to make purchases or investments they might not be able to otherwise afford.

Nick Rodr Gets a Loan from the First State Bank