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The price that a person must pay in order acquire purchasing power now rather than in the future is called

User Jannatul
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Answer:

the interest rate.

Step-by-step explanation:

The interest rate -

It refers to the due money for the principal amount for the borrowing process , is referred to as the interest rate .

The amount of interest is directly proportional to the principal amount .

i.e.,

more the principle amount , more would be the interest rate , and vice versa .

The interest rate applied on the yearly basis , is refers to as the annual interest rate .

Hence , from the given statement of the question ,

The correct answer is the interest rate .

User Cody Bouche
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