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Interest rate is the 'rental' price of money. IE the cost of borrowing money.
When a resource or asset is borrowed, the borrower pays interest to the lender
for the use of it. The interest rate is the price paid for the use of money for
a period of time.
Articles on interest rates Click on article for full details
If the whole world went into
recession, all the major central banks could cut interest rates and expand the
We have one of the highest interest rates in the world, and we owe more money
per capita than any other country. All we need is a nail hole in the bottom of
the boat and we're sunk.
Sleep is the interest we have to pay on the capital which is called in at death;
and the higher the rate of interest and the more regularly it is paid, the
further the date of redemption is postponed.
Jokes oninterest rates
There are two types of economists:
(1) those who cannot forecast interest rates, and
(2) those who do not know that they cannot forecast interest rates.
Einstein's Room Mates
Einstein dies and goes to heaven only to be informed that his room is not yet
ready. "I hope you will not mind waiting in a dormitory. We are very sorry, but
it's the best we can do and you will have to share the room with others." he is
told by the doorman (say his name is Pete). Einstein says that this is no
problem at all and that there is no need to make such a great fuss. So Pete
leads him to the dorm. They enter and Albert is introduced to all of the present
"See, Here is your first room mate. He has an IQ of 180!"
"Why that's wonderful!" says Albert. "We can discuss literature!"
"And here is your second room mate. His IQ is 150!"
"Why that's wonderful!" says Albert. "We can discuss mathematics!"
"And here is your third room mate. His IQ is 100!"
"That's wonderful! We can discuss the latest plays at the theatre!"
Just then another man moves out to capture Albert's hand and shake it.
"I'm your last room mate and I'm sorry, but my IQ is only 80."
Albert smiles back at him and says, "So, where do you think interest rates are
interest rates:: Future Value of Investment Calculator
Books on interest rates
Personal Finance for Dummies
Personal Finance for Dummies offers sound and practical advice for those who
want to get control over their personal financial lives. Author Eric Tyson
points out the most common mistakes that we all make in our approach to money
and prescribes ways to save and invest for a secure future. Using worksheets,
the book helps you to measure your own financial health by looking at factors
such as how much debt you carry, your savings rate, as well as investment and
insurance checkups. The book looks at how you should invest your retirement
account, approach taxes, and provides a good overview on how to buy real estate.
Software on interest rates
Real Estate Calculator Suite
Real Estate Calculator Suite can
help you determine how much house you can afford. (Mortgage Qualifier)
It can show you the impact different mortgage interest rates will have on your
home loan. (Loan Spread Calculator)
Real Estate Calculators Suite helps you decide what mortgage term (length of
loan) is best for your budget. (Loan Spread Calculator)
It helps you determine how much house you can afford based on what you currently
pay in rent. (Rent or Buy Calculator)
Show you how much to add to your monthly mortgage payment in order to pay off
your mortgage by a chosen date. (Loan Amortizations and Prepayment Calculator)