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Calculating the rate of interest on a floating rate loan Floating rate 29 basis points (0.29) percent over an index based in libor. The value
Calculating the rate of interest on a floating rate loan
Floating rate 29 basis points (0.29) percent over an index based in libor. The value of interest for the week before had an annual rate of 2.23 percent and a minimum of 1.72 percent. Calculate weeks 2thru 10.
Week 1 1.98%
Week 2 1.66%
Weee3. 1.47%
Week 4 1.38%
Week 5 1.55%
Week 6 1.69%
Week 7 1.66%
Week 8 1.86%
Week 9 1.92%
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