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Interest
Literally, a fee for renting money. Someone who borrows money from another is usually obligated to return the original amount borrowed plus some additional money. That additional money is the interest. The interest rate is a measure of the rental fee for money in terms of a percentage over some period. At 10 percent interest for a year, someone who borrows $100 is obligated to pay $110 back at the end of one year.
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- Part of Speech: noun
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- Industry/Domain: Computer; Software
- Category: Software engineering
- Organization: IEEE Computer Society
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