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Exhibit 23.7
Use the Information Below for the Following Problem(S)
The WallMal Company has entered into a 4-year interest rate swap, with semiannual settlement, to pay a fixed rate of 8% per year and receive 6-month LIBOR. The notional principal is $50,000,000.
-Refer to Exhibit 23.7.Assuming that one year after the swap was initiated the fixed rate on a new 3-year receive fixed pay floating LIBOR swap has fallen to 7% per year,calculate the market value of the 8% fixed rate bond based on $100 face value.Settlement is on a semiannual basis.
Counsel
Providing advice or guidance on personal or psychological matters.
Supervisors
Individuals who oversee and direct the work of others within an organization.
Physical
Relating to the body as opposed to the mind or emotions, or relating to material things rather than spiritual ones.
Verbal
Pertaining to words and language, either spoken or written, as a form of communication.
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