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Finance Dictionary and Glossary of Investment Terms
interest rate
Definition 1.
Interest per year divided by principal amount, expressed as a percentage.
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Definition 2.
The monthly effective rate paid (or received if you are a creditor) on borrowed money. Expressed as a percentage of the sum borrowed.
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Definition 3.
The monthly effective interest rate. For example, the periodic rate on a credit card with an 18% annual percentage rate is 1.5% per month.
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