Explore the complex world of finance and banking in this 36-minute video lecture. Delve into the historical development of banking, focusing on the crucial relationship between credit and debt. Examine the significant costs associated with debt through interest and the potential risks of credit through default. Learn to derive and apply the fundamental formula in banking and finance, which describes the behavior of loans with fixed interest rates and periodic deposits or repayments. Discover the concept of bonds, both government and corporate, and their pivotal role in 20th-century finance. Gain insights into how governments raise money and their broader role in the financial system. Enhance your understanding of financial concepts through practical examples and numerical illustrations of key formulae.