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question 96

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Definitions:

Interest Rate

The cost of borrowing money, often expressed as a percentage of the borrowed amount.

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Financial instruments that give the holder the right, but not the obligation, to buy or sell an asset at a predetermined price within a set time period.

Interest

The charge for borrowing money, typically expressed as an annual percentage of the loan amount, or the income earned from lending money.

Account

A record or statement that tracks financial transactions and the financial position of an individual, company, or other entity.

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