Interest rate is the price of the money. .Interest rates are the most pervasive element in the financial market. Interest works both ways. .You earn interest when you save and you pay interest when you borrow
Textbook: Principles of Money, Banking and Financial Markets- 10thed( Lawrence. Ritter, William. Silber, Gregory F. Udell, Jointly Published by Pearson Education North Asia Limited and China Higher Education Press
