BUSINESS ADMINISTRATION
BUSINESS MATHEMATICS
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Mark-up
|
|
|
Markon
|
|
|
Rate
|
|
|
Discount
|
Detailed explanation-1: -The interest rate is the amount a lender charges a borrower and is a percentage of the principal-the amount loaned. The interest rate on a loan is typically noted on an annual basis known as the annual percentage rate (APR).
Detailed explanation-2: -Interest is the monetary charge for borrowing money-generally expressed as a percentage, such as an annual percentage rate (APR). Interest may be earned by lenders for the use of their funds or paid by borrowers for the use of those funds.
Detailed explanation-3: -The interest rate is the cost you will pay each year to borrow the money, expressed as a percentage rate.
Detailed explanation-4: -Periodic rate is the rate charged by a lender each period. It can be quoted as a rate per period, say semiannually, per quarter or per month. For example, a bank could charge 1% per month for a credit card loan.