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Oliga [24]
3 years ago
8

A company has issued a floating-rate note with a coupon rate equal to the three-month Libor + 65 basis points. 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. The coupon rate for the interest payment made on 30 June is:
2.00%.
2.10%.
2.20%.
Business
1 answer:
enot [183]3 years ago
6 0

Answer:

2.20%

Explanation:

Data provided:

Company issued floating-rate note with a coupon rate equal to the three-month Libor 65 basis points

On 31 March three-month Libor  = 1.55%

On 30 June three-month Libor  = 1.35%

Now,

The coupon rate for the interest payment made on 30 June will be calculated as

= 1.55% + 0.65

= 2.20%

Hence, the correct option is 2.20%

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False

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Planning is a detailed programme which is related to  future courses of action.

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