Interest is a periodic charge for the use of credit, or other finance charges.

Name: Interest is a periodic charge for the use of credit, or other finance charges.
Brand: Quizplus
Rating: 4.7 (45 reviews)

Question

Quizplus · Accepted Answer

Interest is a charge for using credit or borrowing money over time. It can be charged periodically (such as monthly or annually) and is calculated as a percentage of the loan amount. Other finance charges may include fees for late payments, balance transfers, or cash advances.

Interest Is a Periodic Charge for the Use of Credit