marcusmariota16 marcusmariota16

20-03-2019
Social Studies

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what is an intrest rate?

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Аноним Аноним

20-03-2019

the proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage of the loan outstanding. plz give me brainliest

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yungcee247 yungcee247

20-03-2019

An interest rate is how much interest is paid by borrowers for the money that they borrow. It is usually a percentage of the sum borrowed.

The formula to find an interest rate of a loan is:

Interest Rate = (Total Repayment Amount - Amount Borrowed) / (Amount Borrowed)

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