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  • Proportion of loan that is charges as interest to the bor...
Multiple choice

Proportion of loan that is charges as interest to the borrower, expressed as APR of balance

  1. Interest Rate

  2. Business Plan

  3. Overhead Costs

  4. Material Costs

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A Correct answer
Explanation

The interest rate is the cost of borrowing money, typically expressed as an annual percentage rate (APR) of the outstanding balance.

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