An interest rate can best be described as a special type of price. It represents the cost of borrowing money or the return on investment for savings and is usually expressed as a percentage of the principal amount over a specific period.
Question
What is an interest rate?
(1 point)
Responses
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
1 answer
1 answer