| 单词 | rate of interest |
| 释义 | rate of interest The cost of credit. Any borrower normally has to pay the lender more than the principal originally received: the excess is interest. The rate of interest is the interest which has to be paid for a 1-period loan, as a percentage of the principal. This is normally expressed as a rate per annum. If a loan is certain to be repaid, the pure rate of interest compensates the lender for loss of liquidity. If a loan is not certain to be repaid, the rate of interest is normally higher than the pure rate of interest, including a default premium to compensate the lender for the average loss expected through default, and a risk premium to compensate a risk-averse lender for uncertainty about how large such losses will be. The rates of interest on long- and short-term loans may differ; normally long-term interest rates are expected to be higher, as long-term securities are more liable to fluctuate in price if interest rates change. |
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