What Is The Definition Of Interest?

What is the difference between likes and interests?

Basically, an interest is something one likes to do or something that one has a feeling for.

For example, she has an interest in poetry, or he is interested in watching the game.

A hobby is something one likes to do in his past time, a spare-time recreational pursuit.

It is an action, something one does..

What are your other interests?

While you may have many interests and hobbies outside of work, it is wise to discuss those you can easily relate to your new position. … Volunteering, community service or charity work. Sports such as competing on a team or in a league, hiking or other exercise. Creative arts, including writing, music, painting and …

How do you use the word interest?

Interest sentence examplesThere was little interest in another round of Monopoly. … Somehow it failed to interest me. … I lost track of time until Alex came along and revived my interest in the ranch. … We understand that you can, in theory, save and save and save and then live off the interest of your savings forever.More items…

What’s an example of interest?

Interest is defined as the amount of money paid for the use of someone else’s money. An example of interest is the $20 that was earned this year on your savings account. An example of interest is the $2000 you paid in interest this year on your home loan. … A charge for a loan, usually a percentage of the amount loaned.

Is interest good or bad?

“If you’re a saver, higher interest rates are good. You earn more interest on your savings. If you’re a borrower though, higher interest rates are bad. It means it will cost you more to borrow,” said Richard Barrington, a personal finance expert for MoneyRates.

What are synonyms for interest?

Interest Synonyms – WordHippo Thesaurus….What is another word for interest?curiosityconcentrationengrossmententhusiasminquisitivenessthoughtfulnessabsorptioncontemplationdeliberationexcitement203 more rows

What is called rate of interest?

The interest rate is the amount a lender charges for the use of assets expressed as a percentage of the principal. The interest rate is typically noted on an annual basis known as the annual percentage rate (APR). The assets borrowed could include cash, consumer goods, or large assets such as a vehicle or building.

What is difference between simple interest and compound interest?

Simple interest is calculated on the principal, or original, amount of a loan. Compound interest is calculated on the principal amount and also on the accumulated interest of previous periods, and can thus be regarded as “interest on interest.”

What is the definition of interest in math?

interest is a fee paid for borrowing money or other assets. • the amount borrowed is called the principal. • the interest is expressed as a percentage rate of the principal. for a given time interval.

What is interest in simple words?

Interest is the cost of borrowing money, where the borrower pays a fee to the lender for the loan. … Simple interest is based on the principal amount of a loan or deposit. In contrast, compound interest is based on the principal amount and the interest that accumulates on it in every period.

What is principal in simple interest?

The principal is the money borrowed or initial amount of money deposited in a bank. The principal is denoted by a capital letter “P.” Interest (R) The extra amount you earn after depositing or the extra amount you pay when settling a loan.

Why is it important to have interest?

Interest rates are one of the most important aspects of the American economic system. They influence the cost of borrowing, the return on savings, and are an important component of the total return of many investments. Moreover, certain interest rates provide insight into future economic and financial market activity.

What is the best definition of interest?

Interest is the monetary charge for the privilege of borrowing money, typically expressed as an annual percentage rate (APR). Interest is the amount of money a lender or financial institution receives for lending out money.

What is the meaning of interests?

(Entry 1 of 2) 1a : a feeling that accompanies or causes special attention to something or someone : concern. b : something or someone that arouses such attention. c : a quality in a thing or person arousing interest.

What is the meaning of lack of interest?

: lack of interest. : the quality or state of not being influenced by personal feelings, opinions, or concerns.