Question

A Saving account in a bank represents the function of money ​

Answer 1

Answer:

A saving account in a bank functions as a store of value.

There are many functions of bank accounts, out of them saving account act as a store of value.

Explanation:

• A saving account is the most economical and practical way of storing extra cash.
• The banks provide a minimal amount of interest on the balance of our saving account.
• This interest slowly helps in increasing the principal amount.
• Furthermore, our money is absolutely safe in a bank in every possible way.

Hence, the function of a saving account is 'store of value'.

Answer 2

1. A bank's savings account serves as a store of value.
2. Bank accounts serve a variety of purposes, one of which is to act as a store of value.
3. A savings account is the most cost-effective and practical way to save money.
4. The banks pay us a pittance in interest on our savings account balances.
5. This interest gradually adds to the principal amount.
6. In addition, our money is completely safe in a bank in every aspect.

As a result, a savings account serves as a "store of value."

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