Question: A five-year floating-rate notes coupon rate is reset every June 30thand December 31stto 80% of the LIBOR, plus 300 basis points. If an investor holds

A five-year floating-rate notes coupon rate is reset every June 30thand December 31stto 80% of the LIBOR, plus 300 basis points. If an investor holds $50,000 par value of these notes and LIBOR is 5.4% on June 30, what is the interest received on the bonds on December 31st?

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