Interest

Definition

Accoring to the financial dictionary, interest is the price paid for borrowing money. It is expressed as a percentage rate over a period of time and reflects the rate of exchange of present consumption for future consumption.

Adapted from: https://financial-dictionary.thefreedictionary.com/interest

Video

Adapted from: https://www.youtube.com/watch?v=8edPzh71RIQ&feature=youtu.be

Interest Infographic

Adapted from: https://visual.ly/community/infographic/education/how-interest-works

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