Show your understanding of interest by completing the following sentence: interest is the amount of money (earned, owed) by the owner of an asset and (paid, earned) by the borrower of the asset for its use.

Interest is the amount of money earned by the owner of an asset and paid by the borrower of the asset for it's use.

Explanation:

For example I am the owner of an asset which is cash and I lend out the cash to a borrower for a 7% interest. Now I as the owner of the asset will earn this 7% interest because I let someone else use my asset and they owe me this money, whereas on the other hand the borrower will pay me an interest for using my asset.

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a

explanation:

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