Definition
Interest is the cost of borrowing money or the return earned on savings.
Why It Matters
Interest influences saving, borrowing, and investment decisions.
Example
Paying interest on a loan.
Malone Global University
Malone Global University
Economics Glossary – Malone Global University
Interest is the cost of borrowing money or the return earned on savings.
Interest influences saving, borrowing, and investment decisions.
Paying interest on a loan.