how banks work

How banks work

Intro actual writing

Have you ever wanted to know how a bank works? Well, I’m here to tell you how.  Banks have been around for thousands of years. For example, the bank is like a massive money holder where men and women work. 

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Interest, this is the process of profit, this means that you get more money by saving money this is how you earn interest. This is important for you.  When you give the bank money, you get 2% interest back.  This happens when you lend the bank a certain amount of money.  If somebody else borrows it they have to pay 7% of the money they borrowed, the bank gets 5% finally you get 2% of the money.  Your magnificent money should be kept held at the large vault. 

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Banks have been around for a long time.  From what I read the first form of banking was in 2000bc.  Back in the day, people used a system called bartering, This was when you gave someone something and they gave you an item of equal value.

Conclusion 

I hope this explanation helped you understand how banks work.  If you have any more questions ask your mum and dad and if you have older siblings you can ask them as well.