How Does Banking Relate to Math?

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Banking is a world of numbers, and math is used in the way accounts are handled, for calculating interest rates and for determining credit scores. Find out why people with strong math skills often pursue careers in banking with help from a registered financial consultant in this free video on credit and personal finance.

Part of the Video Series: Credit & Personal Finance
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Video Transcript

The world of banking is a world of numbers. There is no question about that. Numbers come in many forms in the world of banking. Numbers come in the size of accounts, the way accounts are handled in the form of interest rates, credit scores are also numbers that come into play, the amounts of loans and credit card balances are all number based so there is a big relation to math in that regard. Many individual that want to pursue a career that is centered around numbers because that happens to be their strength will be drawn to a world of career choice in the world of banking because that is where that individual would feel most comfortable. Banking numbers do add up in the area of delinquencies and debt. These are negative numbers as well as the positive numbers that accumulate when your bank balance goes up and your wealth increases so there are different degrees of numbers both positive and negative and that is how banking relates to math. This is financial adviser Patrick Munro talking about how banking relates to math.


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