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 ...

Learn how interest rates affect savings, borrowing, and the economy, impacting personal and business finances. Discover their role in investments and economic trends.

Learn about per diem interest, how it's calculated, its role in loans like mortgages, and why it's essential for borrowers to understand before closing a loan.