Answered: In March 2022, General Electric and…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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5. In March 2022, General Electric and JPMorgan Chase enter into a three-year OIS. GE agrees to pay JPMorgan Chase a fixed rate of 4% every three months on a notional principal of $120 million. JPMorgan Chase agrees to pay GE the three-month SOFT floating reference rate on the same $120 million notional principal. For General Electric, what are the floating cash flows received, fixed cash flows paid, and overall net cash flows with the following SOFR rates: 2.15; 2.65; 2.90; 3.15; 3.20; 3.45; 3.60; 3.80; 3.95; 4.05; 4.20; 4.35

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