Bank Interest is the amount of money paid as compensation to what is obtained by using the money. Interest (Interest) is an acceptable result of the money invested. Interest is the amount of money which can be paid by the borrower (borrower) to the loan (lenders) any particular time outside the principal payments.
Types :
• Interest
(simple interest) is the interest paid or generated only from the amount of
principal borrowed and paid once a year.
• Compound
interest (compound interest) is interest paid or is derived from interest
generated previously, as the principal borrowed / lent or interest is paid more
than once.
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