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Harley Ewing
Social Studies
12 September, 22:58
How do banks earn their profits?
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Nichols
12 September, 23:20
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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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