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1/Banks are the major source of short-term loans for business. *True *False 2/The prime rate of interest is the lowest rate charged to a bank's

1/Banks are the major source of short-term loans for business. *True *False 2/The prime rate of interest is the lowest rate charged to a bank's best customers. *True *False 3/The bank rate is the lowest rate a chartered bank charges to its borrowers. *True *False 4/A privately owned, profit-seeking firm that serves individuals, non-business organizations, and businesses as a financial intermediary is known as a chartered bank. *True *False

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