Interest is best defined as:
A)the payment for using funds.
B)the amount of a loan.
C)insurance against future disaster.
D)the receipt of principal.

Name: Interest is best defined as: A)the payment for using funds. B)the amount of a loan. C)insurance against future disaster. D)the receipt of principal.
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Question

Quizplus · Accepted Answer

Interest is the payment for using funds, typically borrowed money. It is an additional amount charged by lenders on top of the principal amount, which is paid back over time.

Interest Is Best Defined As