Question
What is an interest rate?
a loan add-on
a loan add-on
a required bank fee
a required bank fee
a service provided by a retail store
a service provided by a retail store
a special type of price
a special type of price
a loan add-on
a loan add-on
a required bank fee
a required bank fee
a service provided by a retail store
a service provided by a retail store
a special type of price
a special type of price
Answers
GPT 3.5
an interest rate is a percentage charged by a lender on a borrowed amount, typically expressed on an annual basis. It represents the cost of borrowing money.
So,
A, a loan add-on
B, a required bank fee
C, a service provided by a retail store
D, a special type of price
A, a loan add-on
B, a required bank fee
C, a service provided by a retail store
D, a special type of price
GPT 3.5
The correct answer is none of the options provided. An interest rate is a percentage charged by a lender on a borrowed amount, representing the cost of borrowing money. It is not a loan add-on, required bank fee, service, or special type of price.
CAP there gotta be one correct answer
GPT 3.5
I apologize for the confusion. If we have to choose one of the options provided, the closest would be:
D, a special type of price
An interest rate can be considered a type of price that a borrower pays to use someone else's money, in this case, the lender's money.
D, a special type of price
An interest rate can be considered a type of price that a borrower pays to use someone else's money, in this case, the lender's money.