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3 answers

Bank in which u put on interset in the money there.
Either that or I don't understand the question.

2007-09-25 08:36:47 · answer #1 · answered by abizzell4hire 6 · 0 0

What is Interest?
Interest is the price that someone pays for the temporary use of someone else’s funds. To repay a loan, a borrower has to pay interest, as well as the principal, the amount originally borrowed.
Interest is the compensation that someone receives for temporarily giving up the ability to spend money. Without interest, lenders wouldn’t be willing to lend, or to temporarily give up the ability to spend, and savers would be less willing to defer spending.

Interest rates are expressed as percents per year. If the interest rate is 10 percent per year, and you borrow $100 for one year, you have to repay the $100 plus $10 in interest.

Because interest rates are expressed simply as percents per year, we can compare interest rates on different kinds of loans, and even interest rates in different countries that use different currencies (yen, dollar, etc.).

2007-09-25 15:45:15 · answer #2 · answered by Michael Z 2 · 0 0

your question makes no sense please be more specific. are you asking about checking or savings accounts or what?

2007-09-25 15:37:15 · answer #3 · answered by Aloha_Ann 7 · 0 0

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