The price paid to borrow money, which is expressed as a percentage of the amount borrowed, is the:
A) fund rate.
B) interest rate.
C) reserve requirement.
D) balance requirement.

Name: The price paid to borrow money, which is expressed as a percentage of the amount borrowed, is the: A) fund rate. B) interest rate. C) reserve requirement. D) balance requirement.
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Question

Quizplus · Accepted Answer

The interest rate is the price paid to borrow money, expressed as a percentage of the amount borrowed.

The Price Paid to Borrow Money, Which Is Expressed as a Percentage