Úroku

Úroku refers to the payment made for the use of borrowed money or the income earned from lending money. It is essentially the cost of borrowing or the reward for lending. The concept of úroku is fundamental to financial transactions and plays a crucial role in various economic activities.

Úroku is typically expressed as a percentage of the principal amount borrowed or lent. This percentage is known as the interest rate. Interest rates can vary significantly depending on factors such as the borrower's creditworthiness, the duration of the loan, the prevailing economic conditions, and the type of financial institution involved.

There are two main types of úroku: simple interest and compound interest. Simple interest is calculated only on the principal amount. Compound interest, on the other hand, is calculated on both the principal amount and the accumulated interest from previous periods. This means that compound interest grows at a faster rate over time.

Úroku is a key component of loans, mortgages, credit cards, savings accounts, bonds, and many other financial products. For borrowers, úroku represents an expense, while for lenders, it represents income. Understanding how úroku works is essential for making informed financial decisions, whether it involves borrowing money, saving, or investing.