arning Activity Question 1, 89-1 (book/static) Patto HW Score: 0%, of 6 points O Points: 0 of 1 Save (Related to Checkpoint 9.1) (Floating-rate loans) The Bensington Glass Company entered into a loan agreement with the firm's bank to finance the firm's working capital. The loan called for a footing a that was 30 basis points (0.30 percent) over an index based on LIBOR In addition, the loan adjusted weekly based on the closing value of the index for the previous work and had a mamum annual f 2.20 percent and a minimum of 1.75 percent Calculate the rate of ederest for weeks 2 Brough 10 Date Wook 1 LMOR 100% Wook 2 100% Week 3 1.52% Wook 41 1.35% Week 5 1.60% Wook b 1.63% Week 7 1.67% Work A The rate of interest for wook 2 Round to two decimal places) nes Get more help- Clear all