Step 1 : Introduction to the question "Interest is:"
...A.) a charge for lending money to a bank B.) the amount owed for borrowing money* C.) the amount added into your savings when opening a bank account D.) a charge for the convenience of accessing money stored in your bank account - The amount owed is called the principal and the price of borrowing money is called interest.
Step 2 : Answer to the question "Interest is:"
the amount owed for borrowing money:
Please let us know as comment, if the answer is not correct!
Step 3 : Disclaimer & Terms of Use regarding the question "Interest is:"
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