What does the term interest rate mean in finance
If you're a borrower, the interest rate is the amount you are charged for with other financial institutions, which influence all the other interest rates in the economy. interest rate of 2.5% and a mortgage term of 25 years (meaning your monthly It's important to understand interest rates, fees, terms and conditions. Any advice does not take into account your personal needs and financial circumstances Definition: An interest rate, usually a percentage, is the amount charged by a lender that a borrower must pay for using the lender's principal. In other words, this