4.XYZ ltd. Just issued 2,000 FRN'S (floating rate notes), each with the face value of $20,000 (US),...

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4.XYZ ltd. Just issued 2,000 FRN'S (floating rate notes), each with the face value of $20,000 (US), maturity of 6 years, interest payments per annum and interest rate, i, is set as:

i = beginning of the period LIBOR + 1.0%

Suppose interest rate reset-period is 3 months. LIBOR is 1.5% per annum today and it is expected to be 2%, 2.5% and 3.0%, per annum at the beginning of quarter 2, quarter 3, and quarter 4 respectively.

Find interest payment per FRN at the end of year 1.

Posted Date: Jun 06, 2024 02:14 AM

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4.XYZ ltd. Just issued 2,000 FRN'S (floating rate notes), each with the face value of $20,000 (US),...

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