what is the meaning of interest in maths ?Who will pay the interest ? The one who takes loan or the one who give us loan .
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What does interest mean in math?
interest is a fee paid for borrowing money or other assets. • the amount borrowed is called the principal the interest is expressed as a percentage rate of the principal. for a given time interval.
Does the borrower pay the interest?
Borrowed money is repaid either in a lump sum by a pre-determined date or in periodic inst.allments. For loans, the interest rate is applied to the principal, which is the amount of the loan. ... When the borrower is considered to be low risk by the lender, the borrower will usually be charged a lower interest rate.
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