studentsuccess
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  • 24-02-2017
  • Social Studies
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How do banks earn their profits?

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amospark0967
amospark0967 amospark0967
  • 24-02-2017
 The answer should be banks lend money to customers at a higher rate than they pay to depositors or than they borrow it. The difference, known as the margin or turn, is kept by the bank. For example, if a bank pays 1% interest on deposits, they may charge 6% interest on loans.
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