Which is the most suitable option here? Many people borrow money at - ProProfs Discuss
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Which is the most suitable option here? Many people borrow money at some time. For example, very few people can pay cash for the home or car of their choice. Also, many people use credit cards or personal loans to purchase items such as furniture and electrical appliances. In order to have the use of the goods immediately, people borrow money to pay for them. They then make regular repayments over a period of time and pay an additional charge called ____________.



A. Fees
B. Interest
C. Account charges
D. Fares

This question is part of Borrowing Money
Asked by Ewerakso, Last updated: Oct 11, 2019

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2 Answers

jamespeter

Jamespeter

Answered on Oct 11, 2019

Taking money and repaying it at a certain time period with extra charges is nothing, but interest.

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John Smith

John Smith

Answered on Jan 30, 2017

Interest
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