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How much total interest austal ship needs to pay

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Question - Austal Ship plans to borrow 1.13 million Australian dollars (A$) for three years. It obtains a floating rate loan from a bank at the interest rate equal to the LIBOR + 2.93 (%). Austal Ship also forecasts 3.67%, 4.45%, and 4.60% LIBOR in year1, year2, and year3, respectively. How much total interest Austal Ship needs to pay for A $1.13 millions in three years of the loan period?

Reference no: EM132775143

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