Interest

Courtney, Ryan, Maria, and Christian

Interest


Money paid regularly at a particular rate for the use of money lent, or for delaying the repayment of a debt.



which means the charge for the privilege of borrowing money. someone who holds more than 5-10% of the stock is in a company is said to hold significant interest

"An investment in knowledge pays the best interest." ~Benjamin Franklin

Facts

When money is borrowed, interest is typically paid to the lender as a percentage of the principal, the amount owed to the lender

History

Around 30,000 BC early loans and interest began with agricultural products. When animals were loaned interest would be a newborn animal. The modern world is now getting a taste of real world. In 1981, interest limits (usually under 10%) were in effect in most of the USA. Today credit card debt is very high and growing, along with personal bankruptcy rates. Most people are paying 21 – 25% “interest” on their credit cards each year. Money they really can’t afford to pay.