📚 Interest rate, noun. ❓ Definition: The proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage of the loan outstanding. ❗️ Examples: 1. Reduced interest rates encourage people to spend money on home improvements. 2. An interest rate of 10 per cent. 3. The student loan interest rate will stay at 7 % for the year. 4. Higher taxes and surging interest rates in the 1990s limited the growth of the industry and drove some galleries out of business. 5. The biggest concern for voters was the future of interest rates. ━━━━━━━━━━━━━ 🌀 @cambridge_dic