When you apply for a bank account or financing, the interest rate you receive can give you a sense of how much you’ll earn in returns — or pay to borrow money. However, not all interest rates work the ...

When you borrow money, you’ll also pay interest on top of the amount you borrowed.. Interest is the money the lender gets for loaning you the money. Read Next: 5 Subtly Genius Moves All Wealthy People ...

No matter which side of a financial transaction you’re on, it’s important to understand the concept of interest. It’s the charged fee for borrowing money—often a percentage of the amount borrowed. For ...