Question: You decide that you will issue floating rate bonds on 15 May 2021. The bonds have a face value of $1,000 anually semi-annual coupon payments

You decide that you will issue floating rate bonds on 15 May 2021. The bonds have a face value of $1,000 anually semi-annual coupon payments at a rate based on BBSW plus a margin of 1.6%. The day fraction count to be Actual/365. If the BBSW is 3.1% on 15 May 2021 and 4.4% on 15 November 2021, how much interest will be payable on

15 November 2021?

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