Mar 31
3 min read
3 Quick Points to Simplify Interest Rates
A rate you should be familiar with
An interest rate is an amount a lender charges a borrower and is a percentage of the principal, which is the amount loaned. The interest rate on a loan is typically noted annually, known as the annual percentage rate (APR). Interest rates can also apply to the amount earned from a savings account or certificate of deposit (CD), known…
