Calculate the rate of interest for weeks 2 through 10.

WEEK 9 1.92%

(Related to Checkpoint 9.1) (Floating-rate loans) The Bensington Glass Company entered into a loan agreement with the fim's bank to finance the firm's working capital. The loan called for a floating rate that was 25 basis points (0.25 percent) over an index based on LIBOR. In addition, the loan adjusted weekly based on the closing value of the index for the previcus week and had a maximum annual rate of 2.16 percent and a minimum of 1.75 percent. Calculste the rate of interest for weeks 2 through 10 Date LIBOR Week 1.94% Week 2 1.61% Week 3 1.53% Week 4 1.37% Week 5 1.53% Week 6 1.81% Week 7 1.74% Week 8 1.89% The rate of interest for week 2 is% . ( Round to two decimal places.) Enter your answer in the answer bax and then click Check Answer. 8 parts remaining Clear All Check Answer (Related to Checkpoint 9.1) (Floating-rate loans) The Bensington Glass Company entered into a loan agreement with the fim's bank to finance the firm's working capital. The loan called for a floating rate that was 25 basis points (0.25 percent) over an index based on LIBOR. In addition, the loan adjusted weekly based on the closing value of the index for the previcus week and had a maximum annual rate of 2.16 percent and a minimum of 1.75 percent. Calculste the rate of interest for weeks 2 through 10 Date LIBOR Week 1.94% Week 2 1.61% Week 3 1.53% Week 4 1.37% Week 5 1.53% Week 6 1.81% Week 7 1.74% Week 8 1.89% The rate of interest for week 2 is% . ( Round to two decimal places.) Enter your answer in the answer bax and then click Check Answer. 8 parts remaining Clear All Check