BUSINESS ADMINISTRATION
BUSINESS MATHEMATICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Coupon
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Interest (I)
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Simple Interest
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Compound Interest
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Detailed explanation-1: -Interest income is the amount paid to an entity for lending its money or letting another entity use its funds.
Detailed explanation-2: -Interest is the monetary charge for borrowing money-generally expressed as a percentage, such as an annual percentage rate (APR). Interest may be earned by lenders for the use of their funds or paid by borrowers for the use of those funds.
Detailed explanation-3: -The sum of money you deposit into a savings account or borrow from a bank is called the principal. The fee to borrow money is called interest. When you borrow money you pay back the principal and interest to your lender.
Detailed explanation-4: -The amount of extra money that is paid while repaying the loan is called interest.
Detailed explanation-5: -What are the Different Types of Interest? The three types of interest include simple (regular) interest, accrued interest, and compounding interest.