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How much will grecian tile pay in interest over first year

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Problem 1: Grecian Tile Manufacturing of Athens, Georgia, borrows $700,000 at LIBOR plus a lending margin of 1.34 percent per annum on a six-month rollover basis from a London bank. If six-month LIBOR is 4.53 percent over the first six-month interval and 5.25 percent over the second six-month interval, how much will Grecian Tile pay in interest over the first year of its Eurodollar loan?

Reference no: EM132935687

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