What is credit? Explain the types of credits

Credit is a sum of money that has to be returned, be payed according to the agreement. There are forms of the credit such as commercial credit, consumer credit, mortgage (ипотека), international credit, leasing, factoring, and etc.                                           Commercial credit is form of credit when it is used to let pay enterprise for the goods after buying them. This form is used only between enterprises.Consumer credit is a credit that is taken by person to buy long term goods.

Mortgage is a form credit when person can get money but should give mortgage to the bank (house, land)

Factoring means the bank covers all debts of the enterprise, then requires the money from the enterprise.

55) Your nominal wage is 200000 tenge. Income tax is 10% and payment for pension fund is 10%. What is real wage?

Real wage=nominal wage-income tax

Real wage=160000 tg

56. Explain the difference between commercial and bank credit s

The banking segment is divided into two main divisions that are investment banking and commercial banking. Investment bank is the bank having all setup with the end goal of closing commercial transactions but commercial bank is the bank having all setup to give services to the investors. These two banks are not same but there exists a difference between these banks. In this article the contrasts between these banks are explained, which help the individuals to understand the main differences between these banks.

The commercial bank alludes to a foundation which is busy with giving financial and banking related services to the general population. In prior times, there was no that kind of organization where individuals can deposit their cash securely or take advances. Later on, banks are developed that fills in as a financier to every one of the nationals of the nation. Commercial banks are possessed privately or publicly or by the blend of the two. The banks provide assist in the mobilizations of funds over the economy. The banks acknowledge deposits from the natives of the nation at nominal interest rate and utilize that cash in stretching out credit to different clients, charging more rate of interest from them

For example Merchant banking often focuses on investing a depositor’s assets in a finance portfolio and managing these investments. In the US, banks that offer these services are typically called investment banks. Apart from investing and managing the assets of wealthy clients, they also offer counsel and advice to large corporations. This advice is particularly useful when a company is considering merging with or acquiring another business.

Both commercial banking and merchant banking have roots that go back hundreds of years, if not more. Merchant banks were actually the original banks, and they were invented in the Middle Ages by Italian grain merchants. These merchants, as well as Jewish traders fleeing persecution in Spain, used merchant banking to finance long trading journeys as well as the production of grain