Multiple Choice
Rolliand Bank is going through a financial crisis. Therefore, it takes a loan from the Federal Reserve. The bank has to repay the loan within a year, and it also has to pay a monthly interest of 6% to the Fed. In this case, the 6% interest rate that the Fed charges from Rolliand Bank is the _____.
A) prime rate
B) nominal rate
C) discount rate
D) exchange rate
Correct Answer:
Verified
Correct Answer:
Verified
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