How much is paid for the use of money, as a percent.
Example: Alex invests $1000 at a 6% yearly interest rate, and so receives $60 in interest after a year.
Because $1000 × 6% = $60
See: Compound Interest, Principal
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How much is paid for the use of money, as a percent.
Example: Alex invests $1000 at a 6% yearly interest rate, and so receives $60 in interest after a year.
Because $1000 × 6% = $60