CX Airline and HS Bank decide to swap $1 million loans. CX Airline currently pays...
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CX Airline and HS Bank decide to swap $1 million loans. CX Airline currently pays 9.0% fixed and HS Bank pays 8.5% on a LIBOR + 0.5% loan. If CX Airline swap their fixed loan for a LIBOR + 0.5% loan and LIBOR rises to 8.5%, how much is the payment from CX Airline to HS Bank? (Negative sign for receipt)
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