How is math used in banking?

Answer 1

When someone deposits or withdraws money from a bank, more math is involved to calculate the total in their accounts. Again, precision and accuracy is key. If a bank employee accidentally puts too much money into someone's account, it will cost the bank money. If an employee puts too little into someone's account, it can greatly damage the bank's image. The same goes for withdrawals. The amount taken from the account must match the amount the client withdrew from the account. Accurate math is essential to all transactions; extensive record keeping insures mathematic accuracy. The math is repeatedly checked and rechecked.