What is the reward earned for lending or using money called?

✅Explanation:
-Interest is the price paid for the use of borrowed money or money earned by deposited funds. It is usually expressed as a percentage of the principal amount and represents the lender's compensation for giving up the use of their money and the borrower's cost of using it.

📌Other Options:
-Rent: Payment for the use of land or property.
-Wages: Payment for labor or services rendered.
-Profit: The financial gain made from a business activity after deducting expenses.

• Related Terminologies:
-Principal: The original sum of money borrowed or invested.
-Interest Rate: The percentage charged or earned on the principal amount.
-Simple Interest: Interest calculated only on the principal amount.
-Compound Interest: Interest calculated on both the principal and accumulated interest.