Interest is the charge for the privilege of borrowing money.

Name: Interest is the charge for the privilege of borrowing money.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Interest is the fee or charge for borrowing money from a lender. It is calculated as a percentage of the principal amount borrowed and is usually paid back along with the principal amount to the lender over a predetermined period of time. Therefore, option A is correct.

Interest Is the Charge for the Privilege of Borrowing Money