INTERESTRATE

Interest rate

An interest rate is the rate at which interest is paid by a borrower for the use of money that they borrow from a lender . Specifically, the interest rate is a percent of principal paid a certain amount of times per period . For example, a small company borrows capital from a bank to buy new assets for its business, and in return the lender receives interest at a predetermined interest rate for deferring the use of funds and instead lending it to the borrower. Interest rates are normally expressed as a percentage of the principal for a period of one year.

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interest rate

Noun

  1. The percentage of an amount of money charged for its use per some period of time (often a year).


The above text is a snippet from Wiktionary: interest rate
and as such is available under the Creative Commons Attribution/Share-Alike License.

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