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interest rate banks charge their best customers
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Where can one find out what the prime rate is on any given day?
One can find out what the prime rate is on any given day by going to the Fed Prime Rate website. The website has up to date information on what the prime rate is.
Is LIBOR normally higher or lower than the US prime interest rate?
It is normally higher than the US prime interest rate.
How do credit card companies determine their APRs?
apex. prime rate + credit history
How are prime interest rates determined?
The Federal Funds Rate, which is the interest rate banks charge each other, is determined eight times a year by the Federal Open Market Committee (FOMC). The prime interest rate usually runs about 3% above the Federal Funds Rate.
What is prime APR?
APR stands for Annual Percentage Rate or percentage of interest a company charges you on a 12 month basis for a balance on their card.
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