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Suppose a bank buys an interest rate floor that has these terms: the floor will last for 3 years: payment is annually; the floor rate
Suppose a bank buys an interest rate floor that has these terms: the floor will last for 3 years: payment is annually; the floor rate is 4.7%; and the notional amount is $20 million. What would the writer of this floor pay if the LIBOR were 5.45% ? \$0.05 million \$1.14 million So S1.09 million
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Financial Management For Nonprofit Organizations Policies And Practices
Authors: Jo Ann Hankin, John Zietlow, Alan Seidner, Tim O'Brien
3rd Edition
1119382564, 9781119382560
