The phrase "average annual interest" is correct and usable in written English.
It can be used when discussing financial topics, particularly in relation to loans, savings, or investments, to indicate the typical interest rate applied over a year.
Example: "The average annual interest on the loan is 5%, which will affect your monthly payments."
Alternatives: "mean yearly interest" or "typical annual interest rate."
The average annual interest rate on credit cards has risen to 19.8% from 18.9% six months ago, according to the data firm Moneyfacts.
That can include loans from family and friends, but well over half this finance comes from unregulated moneylenders who charge an average annual interest rate of 48%.
The average annual interest rate on a 30-year fixed mortgage rose to 6.23percentt, from 6.02, over the last week, according to BankRate.com, a research company in North Palm Beach, Fla.
The reason for this is that, over the past ten years, the private sector's cost of capital has been between 2 and 5 percentage points above the average annual interest rate on government bonds of 4.8%.
Servicing this debt at its average annual interest rate of 4pc equates to £3.2bn per year, which based on Scotland's annual tax and duty revenues of £41bn works out at a more than manageable 8pc of the total.
Although the report said that the average annual interest rate in late 1998, 15.25 percent, was only slightly higher than in recent years, banks are steadily pushing up other charges to get more out of the credit cards they issue.
If the historical average annual real interest rate is m > 0, and if the world is stationary, should consumption in the distant future be discounted at the rate of m per year?
Assuming the borrower took the loan at the beginning of the first year of college, he or she would pay about $61,000 in current dollars over the next 14 years (four years of school plus ten years to repay the loan), assuming an average annual 8percentt interest rate.
If Sears charges cardholders an average 21% annual interest (including compounding), and you subtract bad debt losses of 6% and overhead and interest costs of 9%, then the $26.5 billion card portfolio is yielding a sturdy 6%, before tax.
Average annual credit card interest rates climbed in each of the first four months of this year and in April reached 81.4percentt, according to central bank data.
Average annual credit card interest rates in Brazil have risen in 10 of the last 11 months, reaching 99percentt in November, up significantly from 74.5percentt in the same month in 2014, according to that same Central Bank report.
