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please see the attached photo any help would be loved! Homework: 7-1 Score: 0 89 of 4 pts @P9-1 (similar to) MyFinanceLab Assignment 1 ot
please see the attached photo any help would be loved!
Homework: 7-1 Score: 0 89 of 4 pts @P9-1 (similar to) MyFinanceLab Assignment 1 ot 12 (12 complete) Save HW Score: 69.940/0, 34.97 of 50 pts Question Help (Related to Checkpoint 9.1) (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 26 basis points (CL26 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 2.18 percent and a minimum of 1.79 percent Calculate the rate of interest for weeks 2 through 10. Week 1 Week 2 Week 3 Week 4 Week 5 Week 6 Week 7 Week 8 1.66% 1.61% 1.35% 1.69% 1.65% 1.67% 1.91% The rate of interest for week 2 is (Round to two decimal places.)
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