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What is it called when the money we pay for the privlege of borrowing money?
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What are interest rate?
Extra money you pay back for the priveledge of borrowing it.
Why do banks give interest on deposit?
Banks make money by lending money to people and charging people for borrowing. The amount banks charge is called interest. Banks borrow money from other people and pay them interest on the amount borrowed. Banks charge more interest on the money they lend than they pay one the money they borrow. That is how they make money. When people deposit money with a bank, the bank is literally borrowing money from some people so they can lend it to other people. That is why banks pay interest.
Tell you 2 disadvantages of borrowing money?
1) if you cannot pay it back the lender is out of pocket. 2) you then owe that person and all extra money you have until you pay them back belongs to them. borrowing can be okay if the amount is under about £10 though
Borrowing money and now they are deceased to you have to pay back the estate.?
You still owed the money. The executor can ask you to pay back the loan. They can also credit it to any inheritence you may receive.
What are the advantages of borrowing?
If someone borrows your money, you can charge them interest depending on how much they borrowed, and how long it takes them to pay it back.
What is the percentage of interest you must pay for borrowing money is called?
The Intest rate
What is Is the percentage of interest you must pay for borrowing money.?
The Intest rate
What are interest rate?
Extra money you pay back for the priveledge of borrowing it.
What is borrowing money?
borrowing money is when you ask somebody to politely lend you a few dollars or even a wad of money, until you pay them back without interest.
How did Champlain pay for the voyages?
Champlain payed for his voyages by borrowing money from the queen.
Why do banks give interest on deposit?
Banks make money by lending money to people and charging people for borrowing. The amount banks charge is called interest. Banks borrow money from other people and pay them interest on the amount borrowed. Banks charge more interest on the money they lend than they pay one the money they borrow. That is how they make money. When people deposit money with a bank, the bank is literally borrowing money from some people so they can lend it to other people. That is why banks pay interest.
What does the term financed mean?
financing is borrowing money to pay for somthing that costs alot.
Tell you 2 disadvantages of borrowing money?
1) if you cannot pay it back the lender is out of pocket. 2) you then owe that person and all extra money you have until you pay them back belongs to them. borrowing can be okay if the amount is under about £10 though
What is the value of borrowing money?
There is no value of borrowing money. After all, you have to pay it back and often twice or 3 times as much as you originally borowed, but people do this because they want to buy (f.e a car) fast, and they can not wait to get their money by working. ^_^
What is one way a nation can develop foreign debt?
By borrowing more money to pay off their debt
I want to refinance and pay down my existing mortgage by nearly half, in order to make my monthly payments smaller. Can I do this with a "no cost" refinance and not borrowing any money in the refinance?
I think if you can effort for it you can have a refinance without borrowing the money.
Borrowing money and now they are deceased to you have to pay back the estate.?
You still owed the money. The executor can ask you to pay back the loan. They can also credit it to any inheritence you may receive.
