Floating Coupon Bond

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Floating Rate Bond

Miss Lee invested in a 3-Year Floating Rate Bond with a face value of US$200,000 at the market price of 100% in November 2010. The coupon rate was determined as the 3-month USD London Interbank Offer Rate (LIBOR) + 7 basis points (bp). The bond pays interest quarterly and the interest rate adjusts depending on market condition. On the Day of ...