The Economy: 2. Interest Rates and Mortgage Rates
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Introduction
An interest rate is the price of borrowing money over time. If I borrow £100 for a year, at the end of the year, I obviously have to pay £100 back. An interest rates aren't just about me borrowing money from a bank or such like. You could also lend money to the bank by putting it into a savings account. Then the bank pays me. It's the same deal. Although somehow the interest rates you receive as a lender never quite seem to be as high as theinterest rates you pay as a borrower. This is the BBC. This Giving Tuesday. Step up and help doctors without borders continue our life-saving work. Donate today at doctorswithoutb
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