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What does Usury mean?
As a general definition, usury is loaning money at extravagant interest rates. The legal definition varies. The practiced of lending money to people, especially making them pay unfairly high rates of interest.
What is the definition of fixed interest rates?
An interest rate that remains constant throughout the agreed term. If changes in the goverment base rate occur where commercial rates rise or fall you wont be affected.
What is the difference between monthly interest and annual interest rates?
Monthly interest rates are the interest rates calculated and applied on a monthly basis, while annual interest rates are the interest rates calculated and applied over a year. Monthly interest rates are typically lower than annual interest rates because they are based on a shorter time period.
What is the definition of cheap money in economic terms?
This idea has to do with a period of low interest rates to boost spending and investments. Cheap money is the idea that since interest rates are low, from the bank, then it is cheaper to borrow that money and invest it in something.
Definition of a credit union?
The definition of Credit Union is: a cooperative group that makes loans to its members at low rates if interest. Reference: Random House Webster's College Dictionary.
When we talk of interest rates are these the borrowing rates or the lending rates?
When we talk of interest rates , we are talking of the interest rate on the total amount of money borrowed by a person.
Is prime rates the same as interest rates?
Prime rates are the interest rates most banks charge their customers for loans while interest rates are the rates charged to borrow money and come in many forms.
What is the definition of fixed mortgages?
A fixed mortgage is a type of loan where the rate of interest stays the same. Other mortgages' interest rates often fluctuate, but the rate of a fixed mortgage is constant.
Is the price at which bonds sell determined by the interaction of stated rates of interest and market rates of interest?
Yes, the price at which bonds sell are determined by the interaction of stated rates of interest and market rates of interest.
How beneficial are CD interest rates?
What is beneficial about CD interest rates is that they are constant for the specified period of time. Sometimes interest rates can go up or down but CD interest rates would stay the same.
Do interest rates rise when inflation declines?
Interest rates are simply the price of money. When inflation declines, interest rates typically decline also.
What is best definition of compounding interest?
Interest paid on interest previously received is the best definition of compounding interest.
