0
Add your answer:
Earn +20 pts
What is the fee charged to borrow money called?
The fee charged to borrow money is called interest.
What do people pay to borrow money?
The loan is called the principal. People pay interest to borrow money, but payment is interest plus money toward the principal.
What is the process of paying a bank to let you borrow money called?
The process of paying a bank to let you borrow money is called "interest."
When you borrow money from a bank the money charged to you for the loan is called?
It is called "Interest" (I'm not sure if this is right)
What is the interest rate that the Federal Reserve charges member banks to borrow money?
The interest rate that the Federal Reserve charges member banks to borrow money is called the federal funds rate.
What is the fee charged to borrow money called?
The fee charged to borrow money is called interest.
What do people pay to borrow money?
The loan is called the principal. People pay interest to borrow money, but payment is interest plus money toward the principal.
What is the process of paying a bank to let you borrow money called?
The process of paying a bank to let you borrow money is called "interest."
The amount of money borrow is called the?
Principal is the amount of money you borrow. Interest is the fee charged by the lender (or bank) to use their money. The total amount of money you pay back is the principle + interest.
When you borrow money from a bank the money charged to you for the loan is called?
It is called "Interest" (I'm not sure if this is right)
What is the interest rate that the Federal Reserve charges member banks to borrow money?
The interest rate that the Federal Reserve charges member banks to borrow money is called the federal funds rate.
What is money a person pays to borrow money?
Interest.
If I borrow money knowing it has interest - is it up to me to pay it and if I do not is that stealing?
If you borrow money on agreed terms, including the obligation to pay interest, then choose not to pay the interest, that would be stealing.
What kind of interest works against you if you borrow money?
compound interest
When banks borrow money from each other?
Banks usually borrow money from one another when they are running short of cash. They charge a smaller interest (when compared to what interest gets charged to a normal loan customer) when they lend money to other banks. This lending interest rate is called Inter-Bank Lending Rate. Banks even go to the central bank of their country to borrow money if they need it.
How do you understan borrowing in math?
Borrowing is the act of taking with intentions of returning it. If you borrow money, most people will charge interest on the money. Most banks charge interest yearly, sometimes monthly. The interest depends on who or where you borrow the money from.
Why do you receive interest on money that you keep in the bank?
The bank is paying you (compensating you) for the use of your money. When you borrow money from the bank, you pay them interest.
