I Interest Rate Settings and Calculations

A company borrowed $300 million from a bank for two years at 3-month LIBOR+1.5%, beginning March 4 (next week). There is no amortization. Fill in the table below. In the first column you need to write the day of the month, being careful of possible non-banking days. The second column gives you the LIBOR scenarios for that day. Then write the interest rate and the interest payment for those dates.

date 3-mo LIBOR interest rate interest payment March 4 2% June Sept Dec March 2021 2.5% 2.75% 3% 3.25% June 3.33% Sept Dec March 2022 3.45% 3.5% 3.6% date 3-mo LIBOR interest rate interest payment March 4 2% June Sept Dec March 2021 2.5% 2.75% 3% 3.25% June 3.33% Sept Dec March 2022 3.45% 3.5% 3.6%