Examlex
Which of the following is based on computer technology?
Interest Rate
The proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage rate.
Effective Annual Rate
A measure of interest that accounts for compounding over a year, giving a true reflection of the financial cost or return.
Annual Percentage Rate
The annual rate charged for borrowing or earned through an investment, accounting for all costs.
Interest
The cost of using borrowed money, paid by the borrower to the lender, typically expressed as a percentage of the principal sum per year.
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