The _____ is a charge made for the use of money.
A) principal of a note
B) maturity value of a note
C) interest on a note
D) dishonored value of a note

Question

Quizplus · Accepted Answer

Interest is the charge or fee paid for the use of money over a period of time. The principal of a note refers to the original amount borrowed, while the maturity value of a note is the total amount due at the end of a loan term. The dishonored value of a note refers to a situation where the borrower fails to repay the loan as agreed.

The _____ Is a Charge Made for the Use of Money