Question

how saving is done in banks Give examples also ​

Answer 1

The bank will take the funds and invest elsewhere, possibly lending that money to other customers. ... The amount of your deposit or the amount you lend, using the variable “P” for principal. When interest is calculated and paid (yearly, monthly, or daily, for example), using “n” for the number of times per year.

Answer 2

Financial institutions that offer savingsaccounts may limit the number of withdrawals you can make from your account each month. They also may charge fees unless you maintain a certain average monthly balance in the account. In most cases banks do not provide checks with savings accounts.
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