(Floating rate loans). The Bensington Glass Company entered into a loan agreement with the firm's bank to finance the firm's working capital. The loan called for a floating rate that was 28 basis points (0.28%) over an index based on LIBOR. In addition, the loan adjusted weekly based on the closing value of the index for the previous week and had a maximum annual rate of 2.16% and a minimum of 1.73%. Calculate the rate of interest for weeks 2 through 10.

The rate of interest for week two is______%

The rate of interest for week three is_____%

The rate of interest for week four is_____%

The rate of interest for week five is_____%

The rate of interest for week six is_____%

The rate of interest for week seven is_____%

The rate of interest for week eight is_____%

The rate of interest for week nine is_____%

The rate of interest for week ten is_____%

Date Week 1 Week 2 Week 3 Weck 4 Week 5 Week 6 Week 7 Wcck 8 Week 9 LIBOR 1 .92% 1.65% 1.53% 1.37% 1.61% 1.67% 1.72% 1 .94% 1.89%