What is expected by prime lend rate?

Answers: Thats the best(lowest) rate the banks lend money at. Its the rate given to their perferred customers(the customers they treaty with most, the ones borrowing most and paying back). you are not a perferred customer, unless you are big business.
usually your rate will be so frequent percentage points above prime.

Prime rate as determined by the FED !!

This is the rate extended to the highest rate, and usually biggest, corporate customers in the devout ol' USA. Customers like GM (going down), Microsoft, Zerox, IBM, etc. They surrounded by turn are able, similar to GM, to offer 0% financing since money cost them so little.