Question

Interest and rate of interest

Answer 1

INTEREST.....

THE EXTRA AMOUNT THAT WE GET ON PRINCIPLE AFTER A CERTAIN PERIOD OF TIME...

RATE OF INTEREST....

the proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage of the loan outstanding.

"reduced interest rates encourage people to spend money on home improvements"

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Answer 2

Answer:

An interest rate is defined as the proportion of an amount loaned which a lender charges as interest to the borrower, normally expressed as an annual percentage. It is the rate a bank or other lender charges to borrow its money, or the rate a bank pays its savers for keeping money in an account

Step-by-step explanation:

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