Meaning of “true interest cost” in the English Dictionary

business-english dictionary

"true interest cost" in Business English

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true interest costnoun [ S ]

uk us abbreviation TIC, also true interest rate FINANCE

the real cost of interest on loans, including charges, etc.:

The group set the true interest cost at 5.6%.
Prices rose sharply so the true interest rates charged by the market fell to their lowest in several years.

(Definition of “true interest cost” from the Cambridge Business English Dictionary © Cambridge University Press)