An instrument does not have to be payable with interest,but if it is,the amount of interest being charged must be expressed as either a "prime" or a "sub-prime" rate.

Question

Quizplus · Accepted Answer

Interest on an instrument can be expressed in various ways, not limited to "prime" or "sub-prime" rates. It can be a fixed rate, a variable rate, or any other agreed-upon method.

An Instrument Does Not Have to Be Payable with Interest,but