It's paid on a deposit or a loan. The time lag between when a check is received for payment and when it clears. The person who wrote the check receives interest and has use of the money until the check clears. The price of money. It's a fee the lender pays when borrowing money.
Interest is expressed as a percentage of the principal.
The percent of the principal that's owed for borrowing money. The date on which a CD's interest becomes due or, in the case of a bond, when the principal is due. A higher interest rate account than a standard savings account, usually requires a minimum balance, limited check writing and there may be a monthly service fee if the minimum balance isn't maintained. The FDIC insures these accounts. The FDIC insures these accounts.