The amount of interestA charge for borrowing money, most often based on a percentage of the amount owed. paid is calculated as the interest rateThe percentage which, when multiplied by the face amount or principal of a financial instrument, such as a bond, savings account or loan, determines the amount of interest that will be paid to or by t... More times the sum of the principalThe amount of money you borrowed or deposited, excluding any accumulated interest. Some examples include:
• Credit cards: The amount of purchases you have made but not paid on your credit card ... More and any interestA charge for borrowing money, most often based on a percentage of the amount owed. earned or owed.
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