damariharrison06 damariharrison06
  • 01-12-2020
  • History
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What do banks do with money we deposit?

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MrGeekBrain
MrGeekBrain MrGeekBrain
  • 01-12-2020

Well, the bank primarily does two things: loan the money we put into the bank, and pay interest annually to your account. The interest is basically to say: since we are loaning your money to other people, we'll pay (and this is just an example) 10% interest of what you put in your bank account.

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