Miranda runs a small backyard horse boarding stable. When her truck broke down and needed to be replaced, she went to the bank to take out a home equity loan, which allowed her to borrow money against the appraised value of her home. Which type of bank would Miranda most likely go to for this type of loan?A. a commercial bankB. a mutual savings bankC. an independent savings bankD. a credit unionE. a savings and loan association

A. A commercial bank

Explanation:

Commercial banks are financial institutions accept deposits and provide security and convenience to their customers. They also provide loans to individuals and businesses. Commercial bank is a place where people do most of their banking. The main method in which commercial banks earn money is through the provision of loan. They earn money from these loans through what is known as interest. In this case, Miranda needs s loan for her business in order to buy a new truck. The commercial bank is a place she can get a loan in that context.

Retail businesses are important because they provide millions of jobs in the United States. According to the most recent figures, almost 10 million Americans work in retail, from cashiers to store vendors, to low-level clerks.

Business banks are important because they provide much needed deposit services and credit to businesses and individuals. The modern economy would not work without banking, and this is why the banking sector is highly regulated by the government, and often rescued in times of economic crisis.