7. A company has issued a $1,000,000 floating rate note with a coupon rate equal to the three- month LIBOR+65bps. Interest payments are made quarterly on 31 March, 30 June, 30 september, and 31 December. On 31 March and 30 June, the three month libor is 1.55% and 1.35% respectively. What would the coupon rate for the interest rate for the interest payment on 30 June? What would be the dollar amount of the June 30 Payment?

7. A company has issued a $1,000,000 floating rate note with a coupon rate equal to the three- month LIBOR+65bps. Interest payments are made quarterly on 31 March, 30 June, 30 september, and 31 December. On 31 March and 30 June, the three month libor is 1.55% and 1.35% respectively. What would the coupon rate for the interest rate for the interest payment on 30 June? What would be the dollar amount of the June 30 Payment?

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 21MC: A customer takes out a loan of $130,000 on January 1, with a maturity date of 36 months, and an...

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