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6 terms

Finance - Interest rates 2

Cambridge Professional English in use - Finance Unit 24
STUDY
PLAY
discount rate
the rate at which central banks make secured loans to commercial banks
base rate
commercial banks' lending rate for their most secure customers
prime rate
commercial banks' lending rate for their most secure customers
mortgage
a loan to buy property (a house, flat, etc.)
overdraft
occasionally borrowing money by spending more than you have in the bank
hire purchase
borrowing money to buy something like a car, spreading payment over 36 months