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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 Floatingrate 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 basis points 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 percent and a minimum of percent. Calculate the rate of interest for weeks through
The rate of interest for week is Round to two decimal places.
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