How much total interest austal ship needs to pay

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Reference no: EM132745678

Question - Austal Ship plans to borrow 1.83 million Australian dollars (A$) for three years. It obtains a floating rate loan from a bank at the interest rate equal to the LIBOR + 2.11 (%). Austal Ship also forecasts 3.74%, 4.49%, and 4.64% LIBOR in year1, year2, and year3, respectively. How much total interest Austal Ship needs to pay for A $1.83 millions in three years of the loan period?

Reference no: EM132745678

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