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An interest rate is the rate at which interest is paid by a borrower (debtor) for the use of money that they borrow from a lender (creditor). Specifically, the interest rate (I/m) is a percentage of principal (P) paid a certain number of times (m) per period (usually quoted per year). -- Wikipedia

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How to Calculate Interest Rate on a Loan: A Comprehensive Guide - Сайт

Before calculating the interest rate, familiarize yourself with the next mortgage phrases:
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