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Borrowing (money can be borrowed for varying lengths of time (short term,…
Borrowing
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cost of borrowing
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flat rate of interest is the interest charged based on the full life of the loan. this is calculated as simple interest
The true rate of interest is all the other cost are including. If interest is calculated on the sum outstanding, this is also taken into account. This is also taken into account. also known as the annual percentage rate
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