
What Is Interest?
To put it simply, interest is the cost of borrowing money. Let’s just say I want to spend $1 on a cone of ice-cream right this moment. But then, a friend of mine asked to borrow $1 from me. I only have that $1 coin and nothing else. Shall I decide to lend my coin to my friend or use it to buy my ice-cream … Continue reading What Is Interest?