Читать книгу All about Finances & Loans - Nishant Baxi - Страница 5

A loan is an advancement of money or something of value with the promise or a bargain struck between the parties involved to redeem the full sum with interest within a stipulated period of time.

The Basics

The interest is usually calculated proportionate to the sum borrowed and paid back along with the principal in segment for an agreed amount of time.