Interest: An introduction
Interest is the payment for the temporary transfer of capital or goods. However, the term, which originates from Latin, is primarily used for monetary transactions. Over time, numerous types of interest have developed. Depending on the type, there are different calculation bases. Simple interest models can be easily calculated with a pocket calculator, for more complex types of interest there are, for example, ready-made calculators on the internet.
Interest is the price a party has to pay for a loan. On the other hand, interest is the profit that a party receives when it makes its money available to third parties. Interest has existed in various forms for thousands of years. So-called reference interest rates are decisive for setting interest rates. The key interest rate of the European Central Bank (ECB) is one of the most important references in the euro area: Through it, the ECB influences the monetary policy of the entire continent.
A loan comparison is recommended to find the right loan for your needs.
Interest plays a central role in loans and classic savings investments - regardless of whether it is a call money account or a building society savings contract. While savers usually hope for the highest possible interest rates and choose their investment products accordingly, interest costs tend to be a negative feature for borrowers. Many different interest rates have big impact on forex market in exness forex broker singapore. Historically, interest calculation was not always linked to monetary transactions, but nowadays interest occurs almost exclusively in this context. But what exactly is interest? Where and how is it used? And what factors go into interest calculations?
Basic information on interest
According to the definition in the relevant dictionaries, interest is the payment for the transfer of goods or capital over a certain period of time. For example, when you lend your money to another person or take it to the bank, you refrain from spending it and receive interest in return. You assume the role of creditor in the transfer, the third party the role of debtor.
Put simply, interest is rent for capital. It is also often said that "money works for its owner" when it is taken to the bank. This formulation can be traced back to the fact that banks in turn lend on or invest the money deposits of their customers, so the money is constantly in motion and generates interest without the actual owner having to take any further action.
The term interest is often used synonymously with the interest rate, often also called the rate of return. It is calculated over a certain period of time, the interval, and is given as a percentage of the amount borrowed or lent. The interest rate usually accrues per year and is stated as an annual interest rate.
Certain forms of financing, for example construction financing, include a so-called fixed interest rate. The interest rate is contractually fixed for a comparatively long period of several years. This type of interest rate gives you planning security as a borrower. The return on an investment, i.e. its overall success, is also expressed as a percentage interest rate.
2 Shanghai brewer’s biscuits
500ml water, boiled then allowed to cool
- Wash and soak the rice over night.
- Next day, steam the rice over a large muslin cloth till cooked and soft.
- Carefully add the 500ml water into the rice, place the whole in a very clean urn and leave to cool further.
- Crush the brewer’s yeast biscuits over the rice and press down on the rice.
- Create a little ‘well’ in the middle of the rice, cover the urn with clingfilm and put the urn’s lid on tightly.
- Allow it to work its magic in 2-3 days in a warm place like an airing cupboard. The fermentation process needs to be allowed to occur uninterrupted, so resist any temptation to open the urn to check on progress. A yoghurt maker or an instant pot with yoghurt making function would be perfect for this mixture at a constant 30°C .
- When the precious wine liquid can be seen gathering in the ‘well’ is when your rice wine is ready.
- Finally, keep the resulting home-made wine in the fridge, for drinking later or for use in cooking.
“Shanghai Brewer’s Biscuits”
CHICKEN, TOFU AND EGGPLANT HOTPOT
450g chicken breast or thigh (skin on)
1 tsp fish sauce
1 box soft tofu
2 garlic cloves, chopped
3 salted duck eggs, boiled
2 tsp cooking oil
1 tbsp dark soy sauce
300ml chicken stock
1 tsp corn starch dissolved in 3 tsp water
1 spring onion, sliced
- Dice the chicken and marinate in a splash of soy sauce, Chinese rice wine, cornstarch and white pepper.
- Remove the duck egg yolk and roughly chop the egg white.
- Dice the aubergines into cubes.
- In a hot wok or frying pan, add 1 tsp cooking oil till smoking hot and fry the aubergine.
- Add the garlic and fry.
- Add a teaspoon or two of water to help cook the aubergine.
- When the aubergine is soft and cooked, remove from wok and set aside.
- In the same wok, add the remaining oil and fry the chicken pieces till light golden brown.
- Add the egg white and yolk and the fish sauce and fry with the chicken till fragrant.
- In a clay pot, add the tofu, aubergine, chicken cubes, chicken stock and all the rest of seasonings.
- Bring to a boil for 5 minutes.
- Add the cornstarch water to thicken the sauce.
- Serve hot, topped with some sliced spring onions and a drizzle of glutinous rice wine.
DAIKON AND GREEN TEA BROTH
3g Miya Senchagreen tea leaves
200ml water (for brewing the tea)
salt to taste
- Add the mooli into a pot and add just barely enough water to cover.
- Bring to a boil and cook till soft.
- Season with salt.
- Separately, brew the green tea.
- Pour the tea on to the mooli to make this interesting and nutritious soup.
FRAGRANT TEA STEAM FOR LUNGS
- Choose a fragrant tea, if you can, like Lishan Oolong , or an mellow aromatic one like Emperor Pu Erh 1998 Vintage .
- Add freshly boiled water to 2 or 3 grams of tea leaves in a small cereal bowl.
- Position your face over the bowl and let yourself breathe in the steam.
- Use your hands on the edge of the bowl to keep too much steam from escaping.
- Enjoy this experience for 10 minutes, then you can sit up and drink the tea!
- Don’t forget, with a good quality tea, you can keep adding more hot water and brew the tea again and again.
- Fill a muslin bag, no bigger then the palm of your hand, with some unrefined rock salt.
- Warm the bag in a microwave.
- Lie down on your front comfortably and place the warm muslin bag on your ‘ Da Zui’ (大椎) acupuncture point. This acupuncture point is the slightly protuberant vertebra just below the back of the neck.
- Do this as often as you can, ideally every day.
- You can also aim the hot water flow at the same acupuncture point when you’re in the shower.
FOOT SOAK BEFORE BEDTIME
- Soak your feet in a barely warm water.
- Then do is very gradually add hotter water.
- When the first drop of perspiration appears on the tip of your nose, drain away the hot water and massage your feet dry.
- Then lie in bed with the soles of your feet facing each other.
- Do this in as relaxed a way as you can, staying in that position for about 10 minutes.
- This will allow your Qi energy to flow more freely via the acupuncture point that affects the kidneys.
- After that, let yourself enjoy a night of blissful rest.
RELIEF FOR DRY COUGH
- The ‘ Tai Yuan’ acupuncture point is located on the underside of the wrist, below the thumb.
- Gently massage it 10 times in a clockwise direction.
- Then massage it 10 times anti-clockwise.
- Do this three times.
- Repeat daily or whenever you can.