Interest rates play a fundamental role in the financial world, influencing borrowing costs and investment returns. They represent the cost of borrowing money or the return earned on investments and are expressed as a percentage. There are various types of interest rates, including nominal, real, prime, fixed, and variable rates, each serving different purposes. The impact of interest rates extends to borrowing costs, investment returns, and overall economic growth. Factors such as central bank policies, inflation, supply and demand for credit, an
