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How To Calculate Interest on a Loan
When you borrow money, you’ll also pay interest on top of the amount you borrowed.. Interest is the money the lender gets for loaning you the money. Read Next: 5 Subtly Genius Moves All Wealthy People ...
Bankrate on MSN
APR vs. interest rate: What’s the difference?
The APR and interest rate on your mortgage aren’t the same. Here’s what to pay attention to when you compare costs.
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