what is a example of interest?

Answer 1

When a person borrows money, like on a credit card or for buying a car, the bank or finance company charges interest.

For instance, if you borrow $1,000 for a year and pay 5% interest a year, you'll pay

1,000 * 0.05 = $50 in interest for the year.

Answer 2

Thank you Ms. Sue i hope i can ask more questions :)

Answer 3

Sure. Ask as many questions as you like. However, be sure to tell us what you know about the possible answers.

We frown on homework dumping with no effort shown by the students.

Answer 4

Don't worry i just basically need example. Your Awsome!