lectur4-page17 - Ammer and Ammer, Dictionary of Business...

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The prime interest rate is the rate charged by commercial banks for short-term loans to corporations or individuals whose credit standing is so high that little risk to the lender is involved. Only a small percentage of U.S. corporations qualify for the prime rate, which tends to be the lowest going interest rate and thus serves as a basis for other, higher risk loans. The above definition of the prime interest rate is from:
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Unformatted text preview: Ammer and Ammer, Dictionary of Business and Economics , The Free Press, Division of Macmillan, Inc. New York, N.Y., 1984. Prime Rate Prime Rate 1981 18.87% Aug., 1998 8.50% Jan., 1994 6.00% Jan., 1999 7.75% Sept., 1994 7.75% Sept., 1999 8.25% Jan., 1995 8.50% Feb., 2000 8.75% Sept., 1995 8.75% Aug., 2000 9.50% Sept., 1997 8.50% May, 2008 5.00% 17 Jan., 1998 8.50%...
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