The price of money borrowed or saved is called _____. interest loan money supply
Business · High School · Mon Jan 18 2021
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The price of money borrowed or saved is called interest. Interest is the cost of borrowing money or the return on investment for lending or saving money. It is expressed as a percentage of the principal amount (the initial sum of money) and is typically charged or earned over a specific period. The level of interest is influenced by various factors, including the prevailing interest rates in the market, the duration of the loan or investment, and the risk associated with the transaction.