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Taniya Howard
Business
10 February, 13:04
The cost of borrowing money is measured by
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Francesca Jenkins
10 February, 13:14
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The cost of borrowing money is measured by the interest rate and the administration fee. The interest rate is a rate given by a lender based on the amount of money a debtor borrowed and a debtor also has to pay the first administration fee for borrowing money from a lender. Therefore, both of this finance charges are the cost of borrowing money.
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