Asked by Grace Gallagher on May 17, 2024
Verified
Interest is the borrower's payment to the owner of an asset,for its use.
Interest
A charge for borrowed money, generally a percentage of the amount borrowed, paid by the borrower to the lender over a set period.
Borrower's Payment
The amount of money a borrower is required to pay back to a lender, often on a regular schedule, including both principal and interest.
- Examine the interest component within financial deliberations linked to either investing or lending.
Verified Answer
AF
Amindu FonsekaMay 23, 2024
Final Answer :
True
Explanation :
Interest is a payment made by the borrower to the owner of an asset (such as money) for the use of that asset over a period of time. It is usually expressed as a percentage of the amount borrowed or invested.
Learning Objectives
- Examine the interest component within financial deliberations linked to either investing or lending.
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