Question

What is meaning
of interest​

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 (that is, the amount borrowed), 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

Step-by-step explanation:

Interest:::::

♥ Interest is a fee paid to a lender when borrowing

♥ it is set as a percentage rate of the borrowed amount over a certain amount

♥ it is money earned when money is invested

♥ interest is a charge incurred when a load ir credit is obtained

there are two types of interests ::

1. Simple interest

2. Compound interest

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