According to authors Golin and Delhaise, a loan is any legal binding contract between a lender and a borrower. The borrower loans money from the lender for a certain period. The amount borrowed must be paid in full and with interest upon the agreed date or as indicated in the lending contract. From a historical point of view, “short-term loans” refer to the unending liability of the Italian cities and the perpetual annuities released by the European towns. According to the book “History of Interest Rates” by Sidney Homer, short-term loans are prolonged for many years. This includes bank deposits,...