So you have a large some of money, you put it in the bank and live off the interest. How does this work?

I asked my friend if he was to win the lottery (12million) what he would do with it, and he said he would put it in the bank and live off the interest and recieve so many thousands a month without even spending the actual amount he won.. I have an idea of what he means but what is 'interest' and would it... show more I asked my friend if he was to win the lottery (12million) what he would do with it, and he said he would put it in the bank and live off the interest and recieve so many thousands a month without even spending the actual amount he won..

I have an idea of what he means but what is 'interest' and would it work out like the way he said?
Thankyou
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