Examlex
Instructions: Please define the following key terms.
-Latins
Interest Rate
The percent of principal charged by the lender for the use of its money.
Prime Rate
The interest rate that commercial banks charge their most creditworthy customers, often used as a benchmark in lending.
Lender
An individual, financial institution, or other entity that provides funds to a borrower under the condition of future repayment with interest.
Bank Credit
The amount of credit available to a company or individual from a banking institution.
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