The prime rate of interest is A) the rate the bank charges on ...

[appyboo]

The prime rate of interest is
 
  A) the rate the bank charges on home mortgages.
  B) the rate the bank charges its average borrower.
  C) the rate the bank charges its most creditworthy borrowers.
  D) the rate the bank charges for money it borrows from the Federal Reserve Board.

Question 2

What is the present value of a 5-year ordinary annuity with annual payments of 200, evaluated at a 15 percent interest rate?
 
  A) 670.43
  B) 842.41
  C) 1,169.56
  D) 1,348.48
  E) 1,522.64

[akudia]

Answer to Question 1

C

Answer to Question 2

A

[appyboo]

TYSM

[AmberC1996]

Thanks for the timely response, appreciate it