Question

what is an interest . explain, spam will be reported ​

Answer 1

Interest is the amount that is charged on the loan , when taken , there are two type of interest :

1) simple interest : the interest taken on only the loan , and the principle remain the same .

2) compound interest : the interest charged on the interest of the loan , the principle keeps changing

Answer 2

Answer:

Interest in Accounting

Explanation:

In accounting, interest refers to the cost of money borrowed from a lender. Usually a percentage of the principal amount borrowed, interest can be either simple or compound. Invoicing and accounting software makes it easy to track your expenses from anywhere.

In simple words:

Interest is the cost of borrowing money, where the borrower pays a fee to the lender for the loan. Generally, simple interest paid or received over a certain period is a fixed percentage of the principal amount that was borrowed or lent.

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