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A fee banks charge in exchange for borrowing money is called

Answer :

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09-06-2024

Final answer:

Loan origination fees are charges by banks for borrowing money.

Explanation:

Bank fees that are charged in exchange for borrowing money are commonly known as loan origination fees. Banks charge these fees for various services such as loan guarantees, backup lines of credit, and foreign exchange transactions. Additionally, banks make a profit by lending money at interest rates higher than what they pay to their depositors.

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