A charge for the use of money,usually figured as a percentage of the principal is called _____.

Question

Quizplus · Accepted Answer

Interest is the charge for the use of money and is usually expressed as a percentage of the principal amount borrowed. Dividend refers to a distribution of a portion of a company's earnings to its shareholders, tax is a mandatory financial charge levied by the government, and chargeback refers to the return of funds to a consumer initiated by a bank or credit card issuer.

A Charge for the Use of Money,usually Figured as a Percentage