The proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage of the loan outstanding: reduced interest rates encourage people to spend money on home improvements an interest rate of 10 percent
More example sentences
- The student loan interest rate will stay at 7 % for the year.
- Higher taxes and surging interest rates in the 1990s limited the growth of the industry and drove some galleries out of business.
- The biggest concern for voters was the future of interest rates.
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