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Interest rate
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the amount that a lender charges a borrower for the use of money, typically calculated based on the amount of the loan and the length of the borrowing period
Example
The lowered interest rates stimulated borrowing and investment in the economy.
The savings and loan association offered competitive interest rates on mortgages for first-time homebuyers.
The bank offers a competitive interest rate on savings accounts.
The lending terms included a low interest rate and a flexible repayment schedule.
The interest rates on loans jumped sharply as a response to economic uncertainties.
