On 1 March 2011 a company raises finance by agreeing a six-month Eurodollar loan for $20 million

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On 1 March 2011 a company raises finance by agreeing a six-month Eurodollar loan for $20 million offered at an interest rate of 2.15 per cent. Calculate the cost of the loan in dollars.
(a) On a 30/360-day count basis (180 days)
(b) On a 365-day count, actual/365 basis (183 days)
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Financial Markets and Institutions

ISBN: 978-0077861667

6th edition

Authors: Anthony Saunders, Marcia Cornett

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