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Interest Rate (Noun)

Meaning

The percentage of a sum of money charged for its use.

Classification

Nouns denoting possession and transfer of possession.

Examples

  • The bank offers a competitive interest rate on its savings accounts to attract new customers.
  • A higher interest rate can increase the cost of borrowing for consumers and businesses.
  • The central bank raised the interest rate to combat inflation and stabilize the economy.
  • When taking out a mortgage, it's essential to consider the interest rate and how it will affect your monthly payments.
  • A low interest rate can make it more affordable for people to buy a car or take out a personal loan.

Synonyms

  • Rate Of Interest

Hypernyms

  • Charge Per Unit

Hyponyms

  • Bank Discount
  • Vigorish
  • Discount
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