Interest rate
Revision as of 18:18, 2 June 2020 by Gary (talk | contribs) (Removed redirect to Annual percentage rate)
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.
