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Which of the following choices best describes an interest rate?

a) The minimum amount due for payment every month on a loan
b) The amount of money you borrow
c) The rate at which a borrower repays a loan
d) The percentage a borrower is charged for their loan

Respuesta :

Answer:

The Correct Answer is D

Explanation:

  • An interest rate is the portion of chief imposed by the moneylender for the application of its capital.
  • The chief is the quantity of capital loaned.
  • Since banks acquire payment from yourself (in the order of deposits), they also send you an interest rate on your capital.
  • The interest rate is typically recorded on a yearly foundation known as the yearly percentage rate.

ogorwyne

The best description for the interest rate is the  percentage a borrower is charged for their loan.

What is interest rate?

This is the amount of money that a person accrues when they borrow money from a bank or other lending facilities.

The interest rate is usually charged based on the amount borrowed and the loan period.

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