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8 September, 07:56

What is an interest rate that has been agreed upon by the lender and borrower?

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  1. 8 September, 09:37
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    A proportion of an amount loaned, which a lender charge to the borrower is called an interest rate. The total interest rate on an amount borrowed depends on the principal sum, agreed interest rate, length of time for the use of money and the compounding frequency. In addition, an interest rate is often express as an annual percentage of the principal amount loaned.
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