Difference between revisions of "Interest rate"
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| − | An [[interest rate]] hereinafter, the ''Rate'') is a payment calculated as a percentage of the original amount saved or borrowed, and paid by the borrower to the saver. Frequently, the ''Rate'' refers to the [[annual percentage rate]] ([[annual percentage rate|APR]]). | + | An [[interest rate]] (hereinafter, the ''Rate'') is a payment calculated as a percentage of the original amount saved or borrowed, and paid by the borrower to the saver. Frequently, the ''Rate'' refers to the [[annual percentage rate]] ([[annual percentage rate|APR]]). |
Revision as of 20:48, 2 June 2020
An interest rate (hereinafter, the Rate) is a payment calculated as a percentage of the original amount saved or borrowed, and paid by the borrower to the saver. Frequently, the Rate refers to the annual percentage rate (APR).
Definitions
According to Principles of Economics by Timothy Taylor (3rd edition),
- Interest rate. A payment calculated as a percentage of the original amount saved or borrowed, and paid by the borrower to the saver.
