Interest is defined as a fee charged for the use of money..
Step-by-step explanation:
Interest is a payment from a receiver or deposit-taking financial organisation to a loaner or investor of a quantity higher than reimbursement of the capital (i.e., the quantity borrowed), at a specific rate. It's distinct from a fee that the receiver might pay the loaner or some third party. it's conjointly distinct from the dividend that is paid by an organization to its shareholders (owners) from its profit or reserve, however not at a specific rate determined.