The prime rate of interest is: a. the rate the bank charges its most credit-wort

Question

The prime rate of interest is:
a. the rate the bank charges its most credit-worthyborrowers b. the rate the bank charges for money it borrows from theFederal Reserve Board c. the rate the bank charges its average borrower d. the rate the bank charges on home mortgages The prime rate of interest is:
a. the rate the bank charges its most credit-worthyborrowers b. the rate the bank charges for money it borrows from theFederal Reserve Board c. the rate the bank charges its average borrower d. the rate the bank charges on home mortgages

Explanation / Answer

The Prime rate of interest rate that commercial banks chargetheir most creditworty borrowers, such as large corporations. Answer is Option (a) the rate the bank charges itsmost credit-worthy borrowers.

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