Differentiate between the concepts interest and interest rate

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Adellam asked Feb 3, 2023

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Differentiate between the concepts interest and interest rate

Mathematics
college

Adellam asked Feb 3, 2023

by Adellam

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Interest:is what you receive on your savings from the bank

Interest rate:cost/percentage of the amount that was lend to your or what you had borrowed.

AIon answered Feb 9, 2023

by AIon

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