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Definitions:
Interest Rate
The percentage at which interest is paid by a borrower for the use of money they borrow from a lender.
Corporations
Legal entities that are separate and distinct from their owners, who are shareholders, and have rights to enter into contracts, own assets, and be liable for debts.
Loans
Financial transactions where one party lends money to another with the expectation that it will be repaid, usually with interest, over a specified period.
Usurious Rate
An interest rate charged on a loan that exceeds the legal limit set by law.
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