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A bank has sold a $1 million floor of 3.5 percent at a premium of 0.425 percent of face value. What happens if interest rate

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A bank has sold a $1 million floor of 3.5 percent at a premium of 0.425 percent of face value. What happens if interest rate are 3.15%? IF A LOSS USE THE MINUS SIGN EX -10 DON'T USE COMMA SEPARATORS

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