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homework help could i have help on where i went wrong? my work: The rate of interest for week 2 is The rate of interest
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The rate of interest for week 2 is The rate of interest for week 3 is The rate of interest for week 4 is The rate of interest for week 5 is \%. (Round to two decimal places.) \%. (Round to two decimal places.) \%. (Round to two decimal places.) \%. (Round to two decimal places.) The rate of interest for week 6 is 2.06%. (Round to two decimal places.) The rate of interest for week 7 is \%. (Round to two decimal places.) The rate of interest for week 8 is \%. (Round to two decimal places.) The rate of interest for week 9 is \%. (Round to two decimal places.) The rate of interest for week 10 is \%. (Round to two decimal places.) (Floating-rate loans) week 1=1.95% week 2: 1.67%(1.67%+0.38%)=0.0205=2.05% week 3=1.55%(1.55%+0.38%)=1.93% week 4:1.29%(1.29%+0.38%)=1.67% week 5=1.64%(1.64%+0.38%)=2.02% week 6=1.68%(1.68%+0.38%)=2.06% week 7=1.67%(1.67%+0.38%)=2.05% week i. 1.91%(1.91%+0.38%)=2.29 werk 9.1.92%(1.92%+0.3%%)=2.30% (Floating-rate loans) After looking at a fixed-rate loan, Ace-Campbell Mfg. entered into a floating-rate loan agreement. This loan is set at 38 basis points (or 0.38 percent) over an index based on LIBOR. Ace-Campbell is concerned that the LIBOR index may go up, causing the loan to climb. That concern comes from the fact that the rate on the loan adjusts weekly based on the closing value of the LIBOR index for the previous week. Fortunately for Ace-Campbell, this loan has a maximum annual rate of 2.23 percent. It also has a minimum annual rate of 1.47 percent. Given the following information, calculate the interest rate that Ace-Campbell would pay during weeks 2 through 10. (Gilick on the icon in order to copy its contents into a spreadsheet.) could i have help on where i went wrong?
my work:
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