Interest Rates
What is Interest Rates?
The amount a lender charges a borrower is called an interest rate, and it is expressed as a percentage. Typically, a loan’s interest rate is expressed as an annual percentage rate, or APR (APR).
A savings account or certificate of deposit earnings with a bank or credit union may also be subject to an interest rate (CD). The interest received on these bank accounts is measured in annual percentage yields (APY).
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