Interest Is

question 15

Multiple Choice

Interest is:

• A)Time.
• B)A borrower's payment to the owner of an asset for its use.
• C)The same as a savings account.
• D)Always a liability.
• E)Always an asset.

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Definitions:

Owns

To own means to have legal right or title to an object, property, or asset, granting the holder exclusive rights to the use, enjoyment, and disposition of that asset.

Accepted

Acknowledged or agreed upon; an offer or proposal that has been received and approved.

Reasonable Amount

A quantity or level of something (such as time, cost, or size) that is considered fair, proper, and appropriate under typical circumstances.

Express Terms

Specific provisions or conditions explicitly stated in a contract or agreement.