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Define Interest Rate in Real Estate

Interest Rate: 

An interest rate is the percentage of money that you pay extra when you borrow money, like a loan, or the extra money you earn when you save or invest money. It's like the cost of using someone else's money or the reward for letting them use yours.

Example: 

Suppose you take out a $10,000 loan from a bank to buy a car, and the bank charges you an interest rate of 5% per year. This means you'll have to pay an extra $500 (5% of $10,000) each year on top of the original amount you borrowed.

"Wit & Whimsy with the Dumb Ox: Unlocking Knowledge with Rhyme:"

In the world of money and loans,
Interest rates are the well-known tones.
A percentage, it does show,
The cost of money, high or low.

When you borrow, you must pay,
An interest rate, that's the way.
A small percent, but don't forget,
It adds up, like a growing pet.

And when you save or invest with care,
Interest rates are also there.
A reward you get, a tiny sum,
For letting others use your funds.

So, whether borrowing or saving too,
Interest rates will come to you.
A part of life, like sun and rain,
In the world of financial gain.