Prime rate is the interest rate that a commercial bank will offer to its customers with a credit rating score of 660 or higher. Every customer using the credit instruments has given a credit rating or credit score in light of his or her payment behavior. When your credit rating is good you get a higher score, and if it is 660 or more you can get a favorably lower interest rate on a loan or credit facility like credit cards.
The prime rate is considered to be determined and affected by economic movements. However, the rate is primarily determined by the federal funds rate that banks charge each other for overnight transactions.
Camden Biotechnology began operations in September 2018. The following selected transactions relate
In late 1980, the U.S. Commerce Department released
The following selected transactions relate to liabilities of United Insulation Corporation.
Colson Company has a line of credit with Federal Bank. Colson
Buster Cogdill, a real estate developer, made an offer to
On December 31, 2014, Kate Holmes Company has $7
Weyman Z. Wannamaker is the chief financial officer of Cogburn Company
Assume that the prime rate is 8% APR, compounded quarterly
Boyd Company has a line of credit with State Bank. Boyd
Elite Boat Sales uses a line of credit to help finance its
