banking help?

Question

what is a bank and what are pawnbrokers?

Answer 1

A commercial or savings bank is an institution which accepts cash deposits and extends loans on those deposits. An investment bank creates a market for stocks and bonds when a firm is trying to get money from the public. A pawnbroker accepts small physical assets at a deep discount to their fair value and will permit redemption by a set date and for a set amount of money. If the pawned object is not redeemed, it is sold by the pawnbroker.