Interest rate
The interest rate is a percentage of the principal borrowed, which is then usually paid by the borrower to the lender over time. Note this is above and beyond the principal so that the total payback is principal plus interest.
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The interest rate is a percentage of the principal borrowed, which is then usually paid by the borrower to the lender over time. Note this is above and beyond the principal so that the total payback is principal plus interest.
Contents |