Interest 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.