Question

what is interest??!?​

Answer 1

Interest is payment from a borrower or deposit-taking financial institution to a lender or depositor of an amount above repayment of the principal sum, at a particular rate.

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Answer 2

The rate of interest is equal to the interest amount paid or received over a particular period divided by the principal sum borrowed or lent (usually expressed as a percentage). Compound interest means that interest is earned on prior interest in addition to the principal.

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