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1.If someone buys a cap at 4.55% and the reference rate on the underlying is 4.75%, what is the quarterly payment on $10,000,000 principal underlying?

1.If someone buys a cap at 4.55% and the reference rate on the underlying is 4.75%, what is the quarterly payment on $10,000,000 principal underlying? A. $5,000 B. +$5,000 C. $0 D. Not enough information

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