What is the interest rate paid for borrowed funds Oklahoma

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Calculation example: with a loan amount of USD 100,000 at 10% per annum, for a period of 1 year, the total amount to be repaid will be equal to: USD 105,499.06, with a monthly payment: USD 8791.59. The consequences of not paying the loan are regulated by the legislation of USA.

    What is the interest rate paid on borrowed funds

    No, today's loans are not loans at all.

      To borrow - even a small child knows this - means to give something to someone for a certain time. After the expiry date, the creditor must return the goods to you. But you return the banker not the money he gave you (after all, you bought something with it), but other money that you earned with your work. After all, it is about exchanging some things.

    If the banker's money reflected his own work and you didn't have to give him anything extra (interest), that would be fine. But the banker did not earn them by his own labor, and you must still give him more than you received from him.