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Find how much total interest austal ship needs to pay

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Problem 1: Austal Ship plans to borrow 2.89 million Australian dollars (A$) for three years. It obtains a floating rate loan from a bank at the interest rate equal to the LIBOR + 2.00 (%). Austal Ship also forecasts 3.76%, 4.43%, and 4.71% LIBOR in year1, year2, and year3, respectively. How much total interest Austal Ship needs to pay for A$2.89 millions in three years of the loan period? (enter the whole number without sign or symbol)

Reference no: EM132775596

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