Question

President J. Reuben Clark Jr. once warned that "Once in debt, ________ is your companion every minute of the day and night, you cannot shun it or slip away from it . . . and whenever you get in its way or cross its course or fail to meet its demands, it crushes you."

Interest T/F

Answer 1

Answer: True- Interest

Step-by-step explanation:

Interest is one of type of the financial cost term that basically refers to the saving amount from the earned money is known as interest.

When we usually borrowing the money from the bank or through any agent then the rate of the charge on the total borrow amount is known as the interest rate.

According to the given question, the interest in terms of debt the interest is become the companion every day. The interest is basically calculated from the deposit balance to the paid amount to lender and the given amount is estimated in the form of annual rate.

Therefore, Interest is the correct answer.