Question

Amount paid to borrow money, expressed as a percentage per month or year of the sum borrowed.

a) Down Payment
b) Interest Rate
c) Closing Costs
d) Appraisal Fee

Answer 1

The subject of this question is mathematics. The answer is the interest rate, which is the amount paid to borrow money.

Step-by-step explanation:

The subject of this question is mathematics. Specifically, it pertains to the concept of borrowing money and the associated costs. In this case, the answer to the question is b) Interest Rate. The interest rate is the amount paid to borrow money, typically expressed as a percentage per month or year of the sum borrowed. It is an important factor to consider when taking out a loan, as it determines the cost of borrowing.