The Bensington Glass Company entered into a loan agreement with the firm s bank to finance the
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Question:
The Bensington Glass Company entered into a loan agreement with the firms bank to finance the firms working capital. The loan called for a floating rate that was basis points 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 percent and a minimum of percent. Calculate the rate of interest for weeks through
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