FINANCIAL MATH: A FUNDAMENTAL TOOL IN BANKING SERVICES (Original)

Abstract

Nowadays, the exchanges between clients and banks have gone being increased substantially,

it has become a daily work in the modern society, in this context, many individuals and entities use the diverse bank services to impulse their personal life or their business. Therefore it is necessary to have a right knowledge about these services to take appropriated decisions that stimulate, correctly, the impulse that is wanted to achieve. The command of the financial mathematics and their interaction with the bank services that are offered are vital to take decisions. Inside the financial mathematics they are elements that, by means of their calculation, they help to obtain as much the costs as the benefits of an operation that it seeks to be make and look for the appropriate alternative. To know the calculation of the diverse financial mathematics's indicators, such as: simple interest, compound interest, bank discount and rent; it will allow to have a vision of the results of the operation and to look for the best ways in the presence of several scenarios.  Taking in account what was expose, the present work will have as main aim to make a theoretical review about the relation between financial mathematics and bank services with the purpose of show the direct interaction of both aspects.