The Fed cuts the Federal Funds rate and the Discount rate and the Prime goes down to
Question:
a. Construct an amortization table for the first 3 months of this loan.
b. Instead of a fixed interest loan, the lender gave Al a variable rate loan of prime plus 4 percent. Using the Internet find the current prime lending rate. Construct an amortization table listing Al’s interest payments for the first 3 months of this loan if he borrowed the money on January 1, 2013. Discount Rate
Depending upon the context, the discount rate has two different definitions and usages. First, the discount rate refers to the interest rate charged to the commercial banks and other financial institutions for the loans they take from the Federal...
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