The People who borrow from a bank are charged an amount for the use of money loaned to them. Such amounts are called as ________.
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Interest- The price that people pay to borrow money. When people make loan payments, interest is a part of the payment. Interest Rate- The cost of borrowing money expressed as a percentage of the amount borrowed (principal). Typically, low-risk borrowers with good credit scores pay the lowest interest rates.
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answer is interest
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