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Money and Credit

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  • What is a collateral?
    An asset that the borrower owns and uses as a guarantee to a lender until the loan is repaid
  • What is the earning of the Banks?
    Difference between the interest charged and paid
  • Barter system means
    Exchange of goods without the involvement of money
  • What percentage of deposited money is kept by the banks?
    15%
  • What are terms of credit?
    Collateral, ROI, Documentation and mode of repayment
  • Modern forms of money
    Paper notes, coins
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