what is interest?
February 7, 2007 1:24am CST
what do u think about it ??? interest is money paid for the use of money, expressed as a percent or rate over a period of time. It is the amount of money paid each year at a declared rate on borrowed or invested capital. Interest is paid to you for the use of your money or paid by you for using someone else's money. Interest can be simple or compound. Simple interest is interest earned only the principal