Chapter 9 1) LIBOR last week was 1.88%, this week it is 1.91%. SC Corp. has borrowed $1,000,000 from North Pole Bank at a rate of one half a percentage point above LIBOR with cap of 2.5% and a floor of 2.0%. What interest was charged to SC last week? A) 2.48% A B) 2.38%. C) 2.0% D) 2.5% Answer: Instructions: Please write the details and the formulas that you use to solve the question of the solution any answer without details will be ignored