interest payable

Definition

Interest that is owed but has not yet been paid. Accounting reports will show the amount of interest that is owed on a balance sheet.

Use interest payable in a sentence

You should always know how much the interest payable will be so that you know how much you will owe.

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The interest payable on ABC Company's financial sheet alarmed the CFO so he called an emergency meeting with the manager of the purchasing department.

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He knew that there was much interest payable on the account in which the bank had loaned a wealthy land owner a million dollars to expand his holdings.

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interest paid over life of loan interest rate