interest

Vocabulary Word

Definition

'Interest' is an attention or engagement in something because you enjoy it or benefit from it. When you are interested, you focus and care about a topic, activity, or person.

Examples in Different Contexts

In microfinance institutions, setting appropriate 'interest' rates is crucial to support underserved communities. A microfinance officer might state, 'Establishing fair interest rates is crucial to provide affordable credit to marginalized groups, fostering financial inclusion and community development.'

Practice Scenarios

Business

Scenario:

These loan terms seem great, but I'm worried about the additional costs we might incur.

Response:

I understand your concern. However, remember that interest is a common part of any loan, allowing the lender to make a profit from lending money.

Impact

Scenario:

It's great to see increased awareness about sustainable practices. What specific areas should we focus on first?

Response:

My interest largely lies in renewable energy sources. It's high time we shifted from fossil fuels to more sustainable alternatives.