Grecian Tile Manufacturing of Athens, Georgia, borrows $1,500,000 at six-month CME Term SOFR plus a...
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Grecian Tile Manufacturing of Athens, Georgia, borrows $1,500,000 at six-month CME Term SOFR plus a Bank Credit premium of .43 percent and a lending margin of .80 percent per annum on a six-month rollover basis from a London bank. If six-month LIBOR is 2.5 percent over the first six-month interval and 3.375 percent over the second six-month interval, how much will Grecian Tile pay in interest over the first year of its Eurodollar loan
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