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
Answer
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
Answer
CAP there gotta be one correct answer
Answered by 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.
Answered by 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.
Answered by 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.