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Interest Rate

The percentage of the value of a balance or debt that one pays or is paid each time period. For example, if one holds a bond with a face value of $1,000 and a 3% interest rate payable each quarter, one receives $30 each quarter. The percentage of the interest rate remains constant (usually), but the amount one pays or is paid changes according to the amount of the balance or debt. For example, if one pays off part of the principal on a loan each month, the amount one pays in interest decreases even though the rate remains the same. See also: Time Value of Money.


See Interest Rate.

References in periodicals archive ?
After the modification, the specific rate increased by 5% to 24% depending on screw speed, as indicated by Fig.
The revised credit's specific rate would rise or fall in line with swings in the Northwest wholesale price of electricity.
During the past 24 months we have made substantial progress in upgrading our systems from character-based terminals to Wyse thin appliances because our employees required easier access to information such as customer specific rate quotes, images of bills of lading and delivery receipts, and transit time diagrams from the corporate intranet site," said Jacquelyn Barretta, vice president information services for CON-WAY.
Therefore, If The Tender S Desire To Claim Such Charges, They Should Quote Specific Rate Of Tax-Duty.
Existing subscribers on the orange(TM) network will be given the opportunity to switch to the new rate plans (according to the rules pertaining, including payment of the residual value of the handset) and each customer will be offered that specific rate plan which best suites his or her particular usage pattern.