The fee charged by a financial institution when you borrow money

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	deposit
B	withdraw
C	interest
D	loan

Explanation:

Detailed explanation-1: -Annual Percentage Rate (APR) is the interest charged for borrowing that represents the actual yearly cost of the loan expressed as a percentage. The interest rate is the amount lenders charge borrowers and is a percentage of the principal. It is also the amount earned from deposit accounts.

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