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Imagine a balloon that you blow up to a given size (fill with a given amount of air at a given temperature and pressure) . What do you expect to happen if you suspend the balloon over a bunsen burner (gas flame) ? (Assuming that the pressure does not change significantly) .
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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