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Bank Deposits

Simple Interest

In the world of finance, one of the fundamental concepts is simple interest. It involves multiplying the interest rate by the principal amount and the number of periods. Unlike compound interest, it does not take into account the effect of compounding. This makes it more suitable for calculating interest on short term deposits. Understanding the nuances of simple interest is crucial in mastering financial calculations.

Lender

Lending is the act of providing monetary funds to another individual or organization for a predetermined period of time. This exchange involves the borrower returning the bo...

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Deposit insurance

Demand deposits refer to the funds that are deposited in a bank and can be withdrawn by the depositor at their convenience. These deposits typically include the balances in ...

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Annual Yield

The effective annual rate of return considers the impact of compounding interest. Its significance lies in its ability to convert diverse interest rates into a comparable an...

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Deposits

but is not necessarily payable on demand. A deposit, in essence, is an amount of money that is placed in a bank with the intention of earning interest. It is subject to cert...

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