Definition
An interest rate is the percentage charged for borrowing or paid on savings.
Why It Matters
Interest rates affect spending, saving, and investment.
Example
A 5% interest rate on a loan.
Malone Global University
Malone Global University
Economics Glossary – Malone Global University
An interest rate is the percentage charged for borrowing or paid on savings.
Interest rates affect spending, saving, and investment.
A 5% interest rate on a loan.