What is a blended interest rate?

Answer When parts of a loan are charged or earning different interest rates, the resulting total interest rate is known as a blended interest rate.TypesMortgages and high yield savings accounts often use ... Read More »

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How To Replace a High Interest Rate Credit Card With a Low Interest Rate Card?

Many consumers sign up for a specific credit card because they were offered an attractive introductory interest rate. The problem with introductory rates is that they eventually increase. Before yo... Read More »

What is the difference between rate of return&interest rate?

Rate of return, call known as return on investment, is a percentage of the total profit made from an investment compared to the amount of the investment. Interest rate is the percentage of a loan's... Read More »

Is credit card interest tied to the prime interest rate?

According to the Federal Reserve, some variable-rate credit cards base their interest rate on the prime interest rate. However, other rates can also be used, such as the Treasury bill rate.Source:F... Read More »

How Does the Key Interest Rate Compare to a Prime Rate?

The key interest rate that controls the prime rate is known as the overnight fed funds rate. This key rate is the interest rate that banks lend and borrow money at between each other. On the other ... Read More »