What do you know about the rate of interest?

Question

Accepted Answer

The rate of interest is the cost of borrowing money or the return on investment, expressed as a percentage of the principal.

Interest rates can be fixed or variable; for example, a fixed rate remains constant, while a variable rate can change over time.
Central banks, like the Federal Reserve, influence interest rates to control inflation and stabilize the economy.
Higher interest rates typically lead to lower borrowing and spending, while lower rates encourage borrowing and investment.
For example, a mortgage with a 4% interest rate means you pay 4% of the loan amount annually in interest.

Interview Questions Asked to Inside Sales Associate at Other Companies