Which are the roles of a bank? check all that apply. storing and holding money making purchases to create profits lending money investing in the economy creating money for the economy

The correct answer is:

Storing and holding money

Lending money

Explanation:

Banks are an important part of the economy of a nation because they store money providing a secure place for people to save and invest their money, they also lend money or give credit at a tax rate, which is the main role because it is how banks make profits. Banks can lend money to individuals or companies, which makes them vital to the entire economy.

Storing and lending money and Lending money are the correct answer.

Explanation:

The government authorises the banks to provide various financial services and they are important for the economy .

Their  functions can be divided into primary and secondary. The primary functions include taking deposits and lending money. Deposits are current , saving and time deposits. They  lend money to their customers as loans and advances, overdraft. The secondary functions are providing general utility services and acting as an agent for the customers.

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