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Softa [21]
2 years ago
12

Differentiate between interest and interest rate​

Mathematics
1 answer:
vodka [1.7K]2 years ago
5 0

Answer:

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

<em>Interest is the cost of borrowing money, and the money you earn from your savings.</em>

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

<em>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 </em><em>bank)</em>

<h3><em>❤</em><em>◍</em><em> </em><em>jess </em><em>bregoli</em><em> </em><em>◍❤</em></h3>

#<em>k</em><em>e</em><em>e</em><em>p</em><em> </em><em>learning</em><em>!</em><em>!</em>

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