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34. Savers Bancorp entered into a 2-year interest rate swap on August 9, 2014, in which it received 4.00% fixed rate and paid LIBOR plus

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34. Savers Bancorp entered into a 2-year interest rate swap on August 9, 2014, in which it received 4.00% fixed rate and paid LIBOR plus 1.20% on a notional amount of USD 6.5 million. Payments were to be made every 6 months. The table below displays the actual annual 6-month LIBOR rates over the 2-year period: Assuming no default, how much did Savers Bancorp receive on August 9, 2016? A. USD 72,150 B. USD 78,325 C. USD 117,325 D. USD 156,650

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