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Posted on Sep 19, 2024

Bank of America is involved in an agreement in which it makes payments in periods when a market interest rate falls below an interest rate

Bank of America is involved in an agreement in which it makes payments in periods when a market interest rate falls below an interest rate level specified in the agreement. This means that Bank of America has

a-	sold an interest rate floor.

b-	purchased an interest rate cap.

c-	sold an interest rate cap.

d-	purchased an interest rate floor.

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