In finance, interest is the price paid by a borrower for the use of a lender's money. In other words, interest is the amount of paid to "rent" money for a period of time. The original amount lent is called the principal, and the percentage of the principal which must be paid annually as interest is called the interest rate. Interest rates are crucial indicators in financial markets.

The existence of interest

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There are a variety of reasons which explain the why lenders charge interest for the use of their money:

• The time value of money: Most people would choose to have money in the present rather than money in the future. When asked to lend their current money in exchange for a promise to repay that money in the future, most lenders will agree only if they are repaid more than they originally lent. In effect, the interest rate is the payment for the use of money over time.

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It is all about creating a thinking student. It is our job to ignite interest so they use their strengths to learn (via @hadleyjf)
Ellsbeth (Liz Becker) Wed, 04 Nov 2009 01:06:59 -0000
It is all about creating a thinking student. It is our job to ignite interest so they use their strengths to learn (via @hadleyjf)
It is all about creating a thinking student. It is our job to ignite their interest so that they use their strengths to learn #edchat
hadleyjf (Hadley Ferguson) Wed, 04 Nov 2009 00:58:54 -0000
It is all about creating a thinking student. It is our job to ignite their interest so that they use their strengths to learn #edchat
Halifax just charged me £100 interest on an INTEREST FREE Student overdraft facility! beware of their new overdraft terms and conditions!
hughhwilliams (Hugh Williams) Tue, 03 Nov 2009 23:12:58 -0000
Halifax just charged me £100 interest on an INTEREST FREE Student overdraft facility! beware of their new overdraft terms and conditions!
3 major things done: started my EI application & process to collect remaining benefits, and requested interest relief for my student loans
CosmicOmelette (moonal) Tue, 03 Nov 2009 21:32:54 -0000
3 major things done: started my EI application & process to collect remaining benefits, and requested interest relief for my student loans
@matthewsaturley Thought you'd find this of interest by Gary Hochman, MBA student MIT Sloan, financial analyst, Econ BA http://bit.ly/4uxVSx
alanarenfro (Alana Renfro) Tue, 03 Nov 2009 20:59:32 -0000
@matthewsaturley Thought you'd find this of interest by Gary Hochman, MBA student MIT Sloan, financial analyst, Econ BA http://bit.ly/4uxVSx
Helped a student find books by some authors she wanted to #read more from. Just for her own interest! #refdeskexcitement
azmichelle (Michelle Dyer-Hurdon) Tue, 03 Nov 2009 19:14:29 -0000
Helped a student find books by some authors she wanted to #read more from. Just for her own interest! #refdeskexcitement

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