How much interest will the company pay over the first year

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Question - Cahowave Inc. just took out a 12-year loan for $124,000 at LIBOR plus a lending margin of 1.75% per annum on a six-month rollover basis. Over the first six month period, LIBOR was reported at 5.36%. Over the second six month period, LIBOR was reported at 5.3%. How much interest will the company pay over the first year on its loan?

Reference no: EM132994109

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