A company caps 3-month LIBOR at 10% per annum. The principal amount is $20 million. On a
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A company caps 3-month LIBOR at 10% per annum. The principal amount is $20 million. On a reset date, 3-month LIBOR is 12% per annum. What payment would this lead to under the cap? When would the payment be made? P-987
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