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The fee paid for the use of money is commonly referred to as interest. It is the cost incurred by a borrower for using someone else's funds, typically expressed as a percentage of the principal amount over a specified period. Interest serves as compensation for the lender, reflecting the opportunity cost of lending money instead of using it for other investments.
What else can I help you with?
What term is a word for a fee that is paid for the use of another person money?
The term for a fee paid for the use of another person's money is "interest." This payment is typically expressed as a percentage of the principal amount borrowed and compensates the lender for the risk and opportunity cost of lending their funds. Interest can be applied to various financial transactions, including loans and credit.
What term describes loaning money for a fee?
"Scam" If someone is loaning, they do not charge an upfront fee unless they are scamming you. Loans are paid back with interest, not an upfront fee.
Is a fee paid for every overdraft?
You bet there is. It's not their fault that you ran out of money in the account. Even for linked accounts to cover the overdraft, there is a transfer fee.
What is money paid for the use of money called?
Money that is paid for the use of money is called interest. When you keep your money in a bank savings account, the bank credits your account with interest.
What is the month-to-month fee on the lease agreement?
The month-to-month fee on the lease agreement is the amount of money that needs to be paid each month to rent the property.
What do you call money paid to others for their services?
Fee
Do you get your NSF fee back once you paid the money off?
no
Fee paid to use a road?
Toll
Is money loaned usually for a fee that must be paid back?
refund
What is money loaned usually for a fee that must be paid back?
refund
What term is a word for a fee that is paid for the use of another person money?
The term for a fee paid for the use of another person's money is "interest." This payment is typically expressed as a percentage of the principal amount borrowed and compensates the lender for the risk and opportunity cost of lending their funds. Interest can be applied to various financial transactions, including loans and credit.
Is the amount of money paid or earned for the use of money?
Interest is earned or paid for the use of money
Do stores lose money when people use coupons?
No. In fact the stores make MORE money when people use cupons because the store gets a refund, PLUS a shipping return fee (which they get paid for shipping it).
What is the fee that banks pay a fee to use your money?
Deposit interest.
What is a connection fee?
It's a sum of money paid to a phone company for providing you with a service.
Why do we have to paid a fee for this information?
“Why do we have to paid a fee for this information?”
What term describes loaning money for a fee?
"Scam" If someone is loaning, they do not charge an upfront fee unless they are scamming you. Loans are paid back with interest, not an upfront fee.
