$($Related to Checkpoint$9\mathrm{.}1)($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 $27$ basis points $(0\mathrm{.}27$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 $2\mathrm{.}16$ percent and a minimum of $1\mathrm{.}78$ percent. Calculate the rate of interest for weeks $2$ through $10.$

Date

LIBOR

Week $1$

$1\mathrm{.}95\%$

Week $2$

$1\mathrm{.}59\%$

Week $3$

$1\mathrm{.}46\%$

Week $4$

$1\mathrm{.}34\%$

Week $5$

$1\mathrm{.}63\%$

Week $6$

$1\mathrm{.}67\%$

Week $7$

$1\mathrm{.}73\%$

Week $8$

$1\mathrm{.}94\%$

Week $9$

$1\mathrm{.}92\%$

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