You are borrowing $6m from the bank starting in 281 days and ending in 327 days You have agreed to pay 2 50 interest on an ACT 360 basis If interest rates are Days Rates 281 2 18 327 2 94 what is the present value of this transaction (Round your answer to the nearest 0 01)

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You are borrowing $6m from the bank starting in 281 days and ending in 327 days. You have agreed to pay 2.50% interest on an

You are borrowing $6m from the bank starting in 281 days and ending in 327 days. You have agreed to pay 2.50% interest on an ACT/360 basis. If interest rates are:

Days	Rates
281	2.18
327	2.94

what is the present value of this transaction? (Round your answer to the nearest 0.01)

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