When you put money into a savings account, the bank will use your money, for example by lending it to other people. They will pay you a certain amount for allowing this. The money they pay you is ...

Interest is money that is paid regularly at a particular percentage, usually when money has been lent or borrowed. For example, a bank will give its customers interest to reward them for saving money ...

Compound Interest Formula: As students progress to higher grades in school, the curriculum starts introducing various concepts of practical usage to students such as profit and loss, probability, ...