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What is an interest rate?
An interest rate is the rate at which interest is paid by borrowers (debtors) for the use of money that they borrow from lenders (creditors).
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Asked 2/23/2011 9:33:52 AM
Updated 9/19/2015 12:16:04 AM
1 Answer/Comment
Flagged by emdjay23 [9/19/2015 12:15:31 AM], Edited by selymi [9/19/2015 12:16:01 AM], Unflagged by selymi [9/19/2015 12:16:04 AM]
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An interest rate is the rate at which interest is paid by borrowers (debtors) for the use of money that they borrow from lenders (creditors).
Added 9/19/2015 12:15:34 AM
This answer has been confirmed as correct and helpful.
Confirmed by selymi [9/19/2015 12:15:52 AM]
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