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An FRN has a face value of $ 1 . The first coupon payment is 4 . 7 5 % . The first coupon payment
An FRN has a face value of $ The first coupon payment is The first coupon payment at initiation is days.
It has four remaining payment dates:
Time to payment Libor rates as of t
t days
t days
t days
t days
What is the value of the FRN
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