Definition
Interest rates are the percentage at which lenders charge borrowers for the use of their money, typically expressed annually as an annual percentage rate (APR).
Related Services
Banking, financial planning, and loan advisory services help businesses and individuals find favorable interest rates for loans and investments.
Problem and Application
Interest rates fluctuate based on economic conditions, affecting borrowing costs for businesses and consumers. Strategic planning is necessary to navigate rate changes.
Conclusion
Interest rates are a crucial component of financial decision-making, and businesses need to adapt their strategies to minimize borrowing costs in a changing rate environment.
