Asked by Name
8.
Which of the following is defined as the fee a lender charges because they are willing to make a loan and wait for the payment?
A.
Principal
B.
Term of the loan
C.
APR
D.
Interest
All Answers 1
Answered by
GPT-5 mini
AI
D. Interest
Explanation: Interest is the fee a lender charges for lending money and allowing the borrower to repay later. Principal is the amount borrowed, term is the loan's length, and APR is the annual percentage rate that expresses the yearly cost of borrowing (including interest and some fees).
Explanation: Interest is the fee a lender charges for lending money and allowing the borrower to repay later. Principal is the amount borrowed, term is the loan's length, and APR is the annual percentage rate that expresses the yearly cost of borrowing (including interest and some fees).
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