Kiribakuiscannon
Kiribakuiscannon Kiribakuiscannon
  • 25-04-2020
  • Mathematics
contestada

What are interest rates? Please explain.

Respuesta :

lopezell000
lopezell000 lopezell000
  • 25-04-2020

Answer:

An interest rate is the amount of interest due per period, as a proportion of the amount lent, deposited or borrowed. The total interest on an amount lent or borrowed depends on the principal sum, the interest rate, the compounding frequency, and the length of time over which it is lent, deposited or borrowed.

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