Save Homework: 7-1 MyFinanceLab Assignment Score: 0 of 4 pts 1 of 12 (12 complete) W Score: 92%, 46 of X P9-1 (similar to) Question Help remo (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 29 basis points (0.29 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 2.19 percent and a minimum of 179 percent . Calculate the rate of interest for weeks 2 through 10 new Date Week 1 Week 2 Week 3 Week 4 Week 5 LIBOR 1.97% 1.67% 1.52% 1.32% 1.63% The rate of interest for week 2 is [% (Round to two decimal places) Enter your answer in the answer box and then click Check Answer 8 parts Clear All Check Answer remaining C Type here to search Homework: 7-1 MyFinanceLab Assignment Score: 0 of 4 pts 1 of 12 (12 complete) W Score: 92 Question He X P9-1 (similar to) Date LIBOR Week 1 1.97% Week 2 1.67% Week 3 1.52% Week 4 1.32% Week 5 1.63% Week 6 1.61% Week 7 1.73% Week 8 1.94% Week 9 1.91% (Click on the icon in order to copy its contents into a spreadsheet) The rate of interest for week 2 is 3% (Round to two decimal places) Enter your answer in the answer box and then click Check Answer Clear All Check Answer 8 PS remaining Type here to search