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( Related to Checkpoint 9 . 1 ) ( Floating - rate loans ) The Bensington Glass Company entered into a loan agreement with the

(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 28 basis
points (0.28 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 2.17 percent and a minimum of 1.72
percent. Calculate the rate of interest for weeks 2 through 10.
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