What are the first three interest payments on the loan

Reference no: EM131421028

XYZ Corporation takes out a $1 million loan that semiannually pays six-month LIBOR 50 bp on March 4, 1999. Assume that LIBOR is at 9 percent on March 4, 1999, 8.75 percent on September 4, 1999, and 9.125 percent on March 4, 2000. What are the first three interest payments on the loan? When are they paid?

Reference no: EM131421028

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