Question

Why might an individual want to use a bank? What are the costs to the person? What are the benefits? Give an example of why a person would use a bank.

Answer 1

People would prefer to use banks because then they can make loans, take deposits, because it is safer to have your money at a bank than at home or any other place and because it is a place to keep money. What is the costs if a person used a banks is you would have to pay fees, lost fees, overdraft and late payments also so much more. Why individuals might want to use a bank is because then they can make loans and deposits.

Step-by-step explanation:

Answer 2

An individual would want to use a bank because of some reasons. One is that it is a safe place to keep their money. Another reason is that there is an interest when you put your money in a bank. Which means your money will continue to grow.