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Compound Interest | Numbers

In this video we’re going to look at compound interest.

If you have a savings account and deposit some money, the bank will pay you extra money as a sort of thank you for saving with them. You are effectively loaning them money. This is known as interest.

Similarly, if you borrow money from a bank, the bank will expect you to pay back more money than you borrowed - this is also known as interest.

CREDITS
Animation & Design: Murray Knox
Narration: Lucy billings
Script: Lucy Billings

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