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Rate of Interest
The percentage at which interest is charged on a loan or earned on an investment over a specific period of time.
Mortgage Payment
A regular payment made to a lender that typically includes both interest and principal repayment on a mortgage loan.
Mortgage Rate
The interest rate charged on a mortgage loan, determining the cost of borrowing for the purchase of real estate.
Borrow
To borrow means to receive something of value with the promise to return it within a specified time frame, often with interest in the case of money.
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