Question

what is interest?

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Answer 1

Answer:

Interest, in finance and economics, 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. It is distinct from a fee which the borrower may pay the lender or some third party.

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Answer 2

Answer:

Interest is the monetary charge for the privilege of borrowing money, typically expressed as an annual percentage rate (APR) . Interest is the amount of money a lender or financial institution receives for lending out money.

Explanation:

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