The amount of money one must pay for the use of $1 for one year is called

Name: The amount of money one must pay for the use of $1 for one year is called
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The amount of money one must pay for the use of $1 for one year is called interest. Wages are payments for labor services, rent is payment for the use of a physical asset, profit is the revenue earned after deducting expenses, and a loanable fund refers to the total amount of funds available for lending.

The Amount of Money One Must Pay for the Use