A company has issued a floating-rate note with a coupon rate equal to the three-month MRR +
Question:
A company has issued a floating-rate note with a coupon rate equal to the three-month MRR + 65 bps. Interest payments are made quarterly on 31 March, 30 June, 30 September, and 31 December. On 31 March and 30 June, the three-month MRR is 1.55% and 1.35%, respectively. The coupon rate for the interest payment made on 30 June is:
A. 2.00%.
B. 2.10%.
C. 2.20%.
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The coupon rate for the interest payment made on 30 June is ca...View the full answer
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