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New page: Interest is the cost of the use of money over time. For example, if you borrow $10,000 for your business, then you have to pay interest (say 5%) for using that money. The person who lent...

Interest is the cost of the use of money over time.

For example, if you borrow $10,000 for your business, then you have to pay interest (say 5%) for using that money. The person who lent you the money wants something for it. He’s not going to give it to you for free.

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Revision as of 03:41, May 4, 2007

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