(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 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 previous week and had a maximum annual rate of 2.16 percent and a minimum of 1.75 percent. Calculate the rate of interest for weeks 2 through 10.

Date LIBOR Week 1 1.92% Week 2 1.64% Week 3 1.51% Week 4 1.29% Week 5 1.57% Week 6 1.62% Week 7 1.67% Week 8 1.89% Week 9 1.86%