Day: October 15, 2025

Interest rate is a measure of the cost of money owed on loans and the growth potential of savings accounts. Whether you’re shopping for loans or investing money, understanding how interest works can help you save more on debt and maximize the returns of your savings. Different factors affect how much you pay or earn in interest, such as compounding frequency and loan terms. Keeping tabs on the economy and personal factors like your creditworthiness can also change your rates.

The purpose of interest rates is to promote lending, spending and investment to maintain the economic system. Central banks modify these rates to accomplish macroeconomic goals, including price stability, full employment and sustained economic growth.

When you borrow, you owe the lender a portion of the main value of the funds borrowed. The lender charges interest to offset the opportunity cost (lost potential earnings if the lender invested the funds elsewhere) and the risk that you may not return the loan in full. This arrangement is a win-win for both parties: the lender receives interest payments to offset the risk, and the debtor pays a small fee to obtain funds quickly.

The amount you pay or earn in interest depends on your lender and the market. Banks typically use a formula to calculate their interest rates, which includes your creditworthiness, collateral and other factors. Your creditworthiness is largely determined by your FICO credit score, which lenders use to determine the likelihood that you’ll repay your debt. A market rate, such as the Wall Street Journal prime rate, also influences your loan rates.

In 2024, Americans took part in one of the most closely watched and controversial elections in recent history. The 2024 cycle also saw high voter turnout, reflecting a deep public interest in the issues that voters care about and a desire to shape their futures. The voting and ballot counting processes also went smoothly overall.

Election results are the final determination of who won a particular race, either at the local or national level. They are based on the unified ballot counting process that counts all ballots, including those cast in-person or absentee and those yet to be counted. This process includes examining the votes for each candidate to make sure the results accurately reflect the preferences, interests, and attitudes of the people who voted.

The official federal election results that voters see reported in media reports or released by state and territorial election officials are never completely finalized on election night. This is partly due to the “bandwagon” and “underdog” effects that are operative during the campaign, but it is also because the initial totals that are reported by media or election administration authorities do not include all ballots submitted by voters and have not been subjected to a formal canvassing process.

When the final certified election results do come in, some candidates may contest them or request a recount. Recounts involve a review of the count, typically by re-scanning or hand-counting ballots, to verify that the final certification is accurate. The timing of recounts varies by state, and the statutes that regulate them often set very short deadlines.