PRACTICE ACTIVITY PG. 293 Go to www.myfinancelab.com to complete these exercises online 9-1. (Related to Checkpoint 9.1 on page 258) (Floating-rate loans) The Bensington Glass and get instant feedback. Company entered into a loan agreement with the firm's bank to finance the firm's work- ing capital. The loan called for a floating rate that was 30 basis points (.30 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 2.2 percent and a minimum of 1.75 percent. Calculate the rate of interest for Weeks 2 through 10. Date Week 1 Week 2 Week 3 Week 4 Week 5 Week 6 Week 8 Week 9 LIBOR 1.98% 1.66% 1.52% 1.35% 1.60% 1.63% 1.88% 1.93%

Go to www.myfinancelab.com to condite these exercises orfing: and get instant teedback. 9-1. (Related to Checkpoint 9.1 on page 258) (Floating-rate loans) The Bensington Class 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 30 basis points ( 30 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 2.2 percent and a minimum of 1.75 pereent. Calculate the rate of interest for Weeks 2 through 10