Interest is the payment to the owner of an asset for its use by a borrower.

Name: Interest is the payment to the owner of an asset for its use by a borrower.
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Interest is a fee paid by the borrower to the owner of an asset (usually money) for its use. It is generally expressed as a percentage of the principal amount borrowed, and is typically paid over a specific time period (e.g. monthly or annually). Therefore, interest is the payment made to the owner of an asset for its use by a borrower.

Interest Is the Payment to the Owner of an Asset