(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

percent) 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

2.21

percent and a minimum of

1.73

percent. Calculate the rate of interest for weeks 2 through 10.

The rate of interest for week 2 is

enter your response here

%.

(Round to two decimal places.)

Related to Checkpoint.) Floating-rate loans) The Bensington Glass Company entered into a loan agreement will the bank to finance the form working. The loan called for a long rate the 28 basis points (028 2.0) protower index based on iR In addition, the bandsted weekly based on the coming value of the index for the previous work and had a umum annual rate of 2.21 percent and a minimum of 1.73 percent Calculate the rate of its for weeks 2 rough 10 Date Wick1 Week 2 Week a W 4 We Week Wok Week LIBOR 1,90% 1.67% 1.51% 1324 1511 100% 1.23% 1.05% The worst for wock 2 OK Pound to be remplace)