Rate (Annual Interest Rate)
Annual interest rate, expressed as a decimal (e.g., 0.065 = 6.5%). Always divided by 12 to get the monthly rate used in payment calculations.
| Audience | Name |
|---|---|
| Engineering (code) | — |
| Design (UI label) | — |
| Borrower-facing | your interest rate, as a yearly percentage |
| Do not use | — |
Sources
- Clarity Engine Glossary — Rate
Related
Interest Rate, Current Mortgage Rate, Projected Rate, P&I (Principal & Interest)