Question: You need $ 1 5 , 0 0 0 to purchase a new car. No one who knows you personally has the money to lend.

You need $15,000 to purchase a new car. No one who knows you personally has the money to lend.
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A bank helps solve this problem by eliminating information problems.
pooling savings from many savers.
providing payment services.
creating long-term loans from short-term deposits.
spreading the risk of lending money across many

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