A company borrowed $300 million from a bank for two years at 3-month LIBOR+1.5%. The amortization schedule for the loan is $50 million every six months. As in class, fill in the table using the given LIBOR assumptions, taking proper care of day counts. The loan begins this Monday, December 1. Notice the payment date change due to the weekend.

date 3-mo LIBOR interest rate interest payment total payment

Dec 3 2%

March 4 2.5%

June 3 2.75%

Sept 3 3.05%

Dec 3 3.15%

March 3 2020 3.3%

June 3 3.33%

Sept 3 3.25%

Dec 3