Question: ( Floating - rate loans ) After looking at a fixed - rate loan, Ace - Campbell Mfg . entered into a floating - rate
Floatingrate loans After looking at a fixedrate loan, AceCampbell Mfg entered into a floatingrate loan agreement. This loan is set at basis points or percent over an index based on LIBOR. AceCampbell is concerned that the LIBOR index may go up causing the loan to climb. That concern comes from the fact that the rate on the loan adjusts weekly based on the closing value of the LIBOR index for the previous week. Fortunately for AceCampbell, this loan has a maximum annual rate of percent. It also has a minimum annual rate of percent. Given the following information, calculate the interest rate that AceCampbell would pay during weeks through
tableDateLIBORWeek
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