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A company arranges a borrower's option. The notional principal is $5 million, the strike rate is 6.5% and the interest period is nine months (270 days). At the option's expiry date, LIBOR is 7.6%. What will be the payment to settle the option agreement, ignoring discounting? Assume a year of 360 days. A. There will be no payment B. $39,025.54 C. $41,250.00 D. $39,332.54 |