Is a Fee Charged for the Use of Money

question 63

Essay

is a fee charged for the use of money.
is the amount of money borrowed or placed into a savings account.
is the percent of the principal paid for having money loaned, or earned for investing money.
Unless indicated otherwise, rates are given as a percent for a term of 1 year.
or term is the length of time that the money is being borrowed or invested. When the rate is
given as a percent per year, time has to be written in years.
is the amount of the loan or investment plus the interest paid or earned.

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