Interest

Interest means:
money paid for the use of money (often though of as rent paid for the use of money). The charge for the use of borrowed money. See home mortgage interest; imputed interest; interest deductions; interest income; personal interest expense.

Description and Definition of Interest

The amount a borrower pays for the use of money for a given period of time. Interest is calculated as a percentage of the amount of the loan for each period of time.

Resources

See Also

Further Reading

• Interest in the West's Tax Law Dictionary
• Interest in “A Dictionary of Taxation”