Examlex
Simplify. Assume that all variables represent positive real numbers.
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Interest Rate
A cost, depicted as a percent of the original amount, that a lender demands from a borrower for the right to use resources.
Stated Rate
The interest rate declared on a financial instrument, such as a bond or a loan, which is fixed and does not change over the life of the instrument.
Term
In finance, it refers to the period of time until a loan matures; in a broader sense, it can describe any specific duration or the definition of a concept or agreement.
Receivable
Money owed to a company by its customers or clients for goods or services delivered or used but not yet paid for.
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