mathd.com V Paused HI Apps M Gmail @ Youtube By Maps FIN-320-13575 Principles of Finance 21EW3 Victor Vargas & |02/20/21 2:54 PM Homework: 7-1 MyFinanceLab Assignment Save Score: 0 of 4 pts 1 of 12 (0 complete) HW Score: 0%, 0 of 50 pts P9-1 (similar to) Question Help (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 floating rate that was 26 basis points (0.26 percent) over an index based on LIBOR. In addition, the loan adjusted weekly based on the closing value of the index for the previous week and had a maximum annual rate of 2 16 percent and a minimum of 1 79 percent Calculate the rate of interest for weeks 2 through 10 Date LIBOR Week 1 1 92% Week 2 1.65% Week 3 1 52% Week 4 1 38% Week 5 1.58% Week 6 1.65% Week 7 1.71% Week 8 1 94% Wack 9 1 87% The rate of interest for week 2 is . (Round to two decimal places.) Enter your answer In the answer box and then click Check