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Homework answers / question archive / Austal Ship plans to borrow 1
Austal Ship plans to borrow 1.21 million Australian dollars (A$) for three years. It obtains a floating rate loan from a bank at the interest rate equal to the LIBOR + 2.98 (%). Austal Ship also forecasts 3.77%, 4.36%, and 4.85% LIBOR in year1, year2, and year3, respectively. How much total interest Austal Ship needs to pay for A$1.21 millions in three years of the loan period? (enter the whole number without sign or symbol)
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