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You are about to invest in a 90-day US dollar denominated LIBOR note at a quoted interest rate of 8.70% APR based on a 360-day

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You are about to invest in a 90-day US dollar denominated LIBOR note at a quoted interest rate of 8.70% APR based on a 360-day year. If interest rates increase to 8.72% how much will your dollar interest income change? Select one: It will increase by $50 It will decrease by $25 It will increase by $25 None of the presented responses is correct It will decrease by $50

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