Question

Which of the following statements MOST ACCURATELY defines the term

interest rate?
A. money paid by banks and financial institutions to the U.S. government

B.discounts on purchases
made with a credit card

C. money paid by a borrower
to a lender in exchange for the use of money

D. the level of attention that economists paid to economic activity at any
one time

Answer 1

money paid by a borrower to a lender in exchange for the use of money