What interest rate applies to the payment

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Reference no: EM131623649

The coupon rate on a floating rate note that makes payments in June and December is expressed as six-month Libor plus 28 bps. The six-month LIBOR in December 2018 was 2% and the six-month LIBOR in June 2019 was 4%. what interest rate applies to the payment due in June 2019?

Answer to 4 decimal places, for example 0.1234.

Reference no: EM131623649

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