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Differentiate between interest and interest rate​

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User GRoutar
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1 Answer

6 votes

Answer:

Interest:

Interest is the cost of borrowing money, and the money you earn from your savings.

Interest rate

Interest rates indicate this cost or return as a percentage of the amount you are borrowing or lending (since you are “lending” your savings to the bank)

jess bregoli ◍❤

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User TheWellHopeErr
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