The benchmark interest rate that banks charge to their best customers is termed:
A)prime rate.
B)convertible.
C)private placement.
D)Lease.

Question

Quizplus · Accepted Answer

The benchmark interest rate that banks charge to their best customers is known as the prime rate. It is the interest rate that banks charge their most creditworthy customers, such as large corporations, and is often used as a base rate for setting other loan rates throughout the economy.

The Benchmark Interest Rate That Banks Charge to Their Best