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interest rate

The usual way of calculating interest — as a percentage of the sum borrowed.

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The New Dictionary of Cultural Literacy, Third Edition Copyright © 2005 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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Historical Examples

  • This capital is lent at an interest-rate of from ten to twelve per cent.

    The Philippine Islands

    Ramon Reyes Lala