Definition of «interest on the money»

The phrase "interest on the money" refers to the amount of interest that is earned or charged on a sum of money over time. It means the additional amount of money paid for borrowed funds, usually expressed as an annual percentage rate (APR) of charge. In other words, it's the fee you pay when you use someone else’s money and agree to repay it with interest at some future date.

Usage examples

Calculate the interest on the money invested in the stock market.
Ensure that you receive the correct interest on the money you deposited in your savings account.
The interest on the money borrowed for the mortgage will be paid monthly.
Compare different banks to find the highest interest on the money you want to invest.
Paying off your credit card debt will save you from accumulating higher interest on the money owed.

Phrases with «interest on the money»

Sentences with «interest on the money»

Similarly, I have always directly deposited my paycheck into a savings account so that I could earn interest on my money before paying bills. (thecollegeinvestor.com)
Most banks pay interest on money in savings accounts. (consumer.gov)
Earn interest on money in account and can invest it in a CD. (creditcards.com)
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