(Related to Chechpoint 9.1) (Floating-rate loans). The Bensinglon Glass Company entered into a loan agreeruent...
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(Related to Chechpoint 9.1) (Floating-rate loans). The Bensinglon Glass Company entered into a loan agreeruent with the firm's bank lo linance the firn's working capital The loan called for a floating rate that was 26 basis points (0.26 percent) over an index based on LEOR. In addition, the loan adjusted weekly based on the cosing value of the index fot the previous week and had a maximum annual rale of 2.19 percent and a minimum of 1.72 percent. Calculate the rate of inderest for wecks 2 through 10 The rate of internst for weok 2 is io (Round to two decimal piaces.)
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