Asked by Nargiza Tashmuradova on May 02, 2024
Verified
The price paid for the use of money is called
A) commission.
B) royalty.
C) interest.
D) rent.
Use Of Money
The various purposes for which money is used in an economy, including spending, saving, and investing.
- Grasp the foundational idea of interest and its operation as the fee for the utilization of funds.
Verified Answer
ZK
Zybrea KnightMay 07, 2024
Final Answer :
C
Explanation :
The price paid for the use of money is called interest. It is the cost of borrowing money, typically expressed as an annual percentage rate.
Learning Objectives
- Grasp the foundational idea of interest and its operation as the fee for the utilization of funds.