Interest rate level specified in agreement

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Reference no: EM131535205

Bank of America is involved in an agreement in which it makes payments in periods when a market interest rate falls below an interest rate level specified in the agreement. This means that Bank of America has

a- sold an interest rate floor.

b- purchased an interest rate cap.

c- sold an interest rate cap.

d- purchased an interest rate floor.

Reference no: EM131535205

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