2 years ago

Differentiate between interest and interest rate

Mathematics

1 answer:

vodka [1.7K]2 years ago

5 0

Answer:

<h3 /><h3>Interest:</h3>

Interest is the cost of borrowing money, and the money you earn from your savings.

<h3 /><h3>Interest rate</h3>

Interest rates indicate this cost or return as a percentage of the amount you are borrowing or lending (since you are “lending” your savings to the bank)

<h3>❤◍ jess bregoli ◍❤</h3>

#keep learning!!

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Differentiate between interest and interest rate​

Differentiate between interest and interest rate