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Sagot :
People hang onto their money instead of earning interest because they have to or because it will lower their transaction expenses. because money cannot be substituted.
In the fields of finance and economics, interest is the payment of a sum over and above the principal amount owed at a specific rate by a borrower or deposit-taking financial institution to a lender or depositor. It is not the same as a fee that the borrower might pay to the lender or another entity. Additionally, it differs from a dividend, which is a payment made to shareholders from a company's profit or reserve, but not at a set rate predetermined in advance, but rather on a pro rata basis as a portion of the rewards received by risk-taking business owners when revenue earned exceeds all costs. For instance, when a customer borrows money from a bank, they often pay interest, so they pay the business more.
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