Prime rate calculation for Banking domain:

This article is sponsored one which give the details about prime rate value and the data bank of prime rate service which is more difficult to find out the people who are not familiar to financial sector.
Wecan always check the current status of the U.S. Prime Rate from wallstreet primerate which contains all information about primerate of United states largest banks. WSJ Prime Rate is the interest rate charged by banks when they lend money to other banks, or to their "prime" business customers.
a rule of thumb for the U.S. Prime Rate has been given by follwing format which is veryy useful for readers to find the prime rate value.
U.S. Prime Rate = (The Fed Funds Target Rate + 3)
This article gives the formula how the Primerate calculated from the federal funds and how it could be used for banking domain, mortage and credentials. This is sponsored post