Answer :

Final answer:

Interest is the portion of the mortgage payment related to borrowing money.


Explanation:

Interest is the part of the mortgage payment that represents the amount the lender is charging for borrowing money. It is calculated as a percentage of the loan amount borrowed. For example, if you have a mortgage of [tex]$100,000 with an interest rate of 5%, the annual interest would be $[/tex]5,000.


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