Interest is the cost of borrowing money. When you take out a mortgage, you pay interest on the loan amount. The interest rate is a percentage of the loan amount that you are charged each year, usually paid as part of your monthly payment.
Would you like to learn more about Real Estate? Have you ever wanted to become a Real Estate Agent? Want to know more about being a Realtor? Click on the link for the schedule of our upcoming classes for Real Estate: tocrres.com
Interest is an amount that we pay after taking a loan. Its percentage is fixed so we have to pay it every year.
Bathroom Renovation Services in Markham ON