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. Crocius International can borrow $4,000,000 at LIBOR plus lending margin of 0.55 percent per annum on a three month rolover basis from Citibank. Suppose

. Crocius International can borrow $4,000,000 at LIBOR plus lending margin of 0.55
percent per annum on a three month rolover basis from Citibank. Suppose that the three
month LIBOR is currently 5
15
32 . Further suppose over the second three month interval
LIBOR falls 5
1
8
. How much will Crocious pay in interest to Citibank over the six month
period for the Eurodollar loan?

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