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There are 5 lessons in this math tutorial covering Applications of Percentage in Banking. Simple and Compound Interest. The tutorial starts with an introduction to Applications of Percentage in Banking. Simple and Compound Interest and is then followed with a list of the separate lessons, the tutorial is designed to be read in order but you can skip to a specific lesson or return to recover a specific math lesson as required to build your math knowledge of Applications of Percentage in Banking. Simple and Compound Interest. you can access all the lessons from this tutorial below.
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In this tutorial, we will focus on banking terminology and focus on the key activity that makes a bank operate: interest. Banks work by collecting deposits from customers and using those deposits to fund investments and loans. The profits from those loans and investments are used to pay for the banks employees, offices and equipment etc. A portion of those profits is also used to provide extra money back to the customers who deposited the original money (the customers capital) with the bank. This extra money is called interest. Everybody, at some point in their life, will be in the situation where he/she is in doubt about which bank to choose for depositing his/her money. Therefore it is important to understand how banks work. As banks method of operation is based on percentages - a concept we cover in this chapter, we will now look at banking in more detail.
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