Multiple Choice
Suppose a bank borrows from the Bank of Canada at 3 percent annual interest.In order to make a profit, how much interest should the bank charge for loans it makes to the public?
A) >3 percent annually
B) 3 percent annually
C) 0.01 to 2.99 percent annually
D) 0 percent annually
Correct Answer:
Verified
Correct Answer:
Verified
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