Although the Prime Rate Is the Rate That US Banks

question 93

True/False

Although the prime rate is the rate that US banks charge their most credit-worthy customers, the prime rate is normally higher than the London Interbank Offer Rate (LIBOR).

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Definitions:

Reasonable

A standard of fairness, appropriateness, or rationality often used in legal contexts to determine the justifiability of actions or decisions.

In Writing

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Contract of Employment

A formal agreement between an employer and an employee outlining terms of employment, duties, and rights.

Fixed Period

A set duration of time with defined beginning and end points, often used in contracts, rentals, or employment agreements.