Figure 11-1 
-Refer to Figure 11-1. Which of the following statements is correct?
Definitions:
Interest Rate
The cost of borrowing money or the return on investment, usually expressed as a percentage.
Pure Interest Yield
The portion of a loan's interest rate that solely reflects the cost of borrowing money, excluding any other charges or fees.
Purchasing Power
The ability of an entity, such as a person or a firm, to buy goods or services, typically measured by the amount of goods or services that one unit of currency can buy.
Default Probability
The likelihood that a borrower will fail to meet the obligations of debt repayment within the stipulated terms.
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