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10 February, 13:04

The cost of borrowing money is measured by

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  1. 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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