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History 20 Online
Gucchi:

Which explains what happens to the money that a person deposits into a bank account? The bank saves some of the money for independent loans and pays some to the Federal Reserve. The bank pools the money with other district banks, allowing the person quick and convenient access to funds. The bank pays interest to the person and keeps every dollar and cent in the bank's vault until the person needs it. The bank reserves part of the money and uses the rest to make loans to other people who need them.

Gucchi:

Am I right with D?

Gucchi:

@smokeybrown

carmelle:

Yes, you would be correct because that's basically how banks work lol

Gucchi:

Thank you

carmelle:

np :)

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