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In Business / College | 2025-07-08

The charge for using money over time, often associated with long-term loans, is known as:
A. distribution charge
B. cash dividend
C. preferred dividend
D. interest
E. principal

Asked by jenniannette8

Answer (2)

The charge for using money over time in long-term loans is referred to as interest, and it is calculated as a percentage of the principal amount borrowed. Understanding interest is essential for making informed financial decisions, especially regarding loans. For example, with a 5% interest rate on a $1,000 loan, one would pay $50 in interest in a year. ;

Answered by GinnyAnswer | 2025-07-08

The charge for using money over time, particularly in long-term loans, is called interest. It is calculated as a percentage of the principal amount borrowed. Understanding how interest works is essential for making informed financial decisions.
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Answered by Anonymous | 2025-07-10

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