By: Wayne, Jack, Lamar, and Victoria
Money paid regularly at a particular rate for the use of money lent, or for delaying the repayment of a debt.
When you pay money to keep the loan sharks that you owe money to off your back.
6th grade defenition
The money the bank pays you for letting them keep your money in that bank so that they can lend it out to other people
Where the concept of interest began
According to historian Paul Johnson, the lending of "food money" was commonplace in Middle East civilizations as far back as 5000 BC. They regarded interest as legitimate since acquired seeds and animals could "reproduce themselves".
In the time
we had gotten to the point where people were trading food as money and you could (borrow) (use) seeds to plant and grow your own food, and give back a portion of your production that came form this growth period to the person who lent you the seeds until you give him back the number of seeds (or animals) and usually a little more.
BC means before Christ
This would tell you that this is before many major empires and that people in this time live in small communities and have very little communication or interest in the prosperity of others.