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A bank has purchased a $1 million floor of 3 percent at a premium of 0.2 percent of face value. What happens if interest rate

A bank has purchased a $1 million floor of 3 percent at a premium of 0.2 percent of face value. What happens if interest rate are 2.85%? IF A LOSS USE THE MINUS SIGN EX -10 DON'T USE COMMA SEPARATORs

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