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The interest rate of 6% on a loan is set at 1% over LIBOR. This means that: a. The LIBOR is 5% b. The prime

The interest rate of 6% on a loan is set at "1% over LIBOR. This means that: a. The LIBOR is 5%

b. The prime rate is higher than LIBOR

c. The prime rate is 5%

d. The prime rate is lower than LIBOR

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