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Tuesday, March 2, 2021
Tags Interest Rates

Tag: Interest Rates

How Will the Election Affect the Interest Rates?

Interest rates refer to the cost of borrowing money and is described as the Federal Funds Rate + prime rate for borrowing that money. The prime rate is also known as the rate banks charge a borrower with good credit and financial standing. You can also describe this as the index + the margin. Where the index is equal to the Federal Funds Rate and the prime rate is equal to the margin banks charge to lend their money.
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