the question is from 2016 AM 8-C, it says the acquisition is using a bridge loan with a term of 180 days and rate of 180 day libor plus 300, I used the rate they gave, as 180 days rate and got the answer wrong when the answer says it is 360 days quote, is that always the case that when libor is quoted it is 360 day quote?
Interest rate are always – _ always! _ – quoted as annual rates.
Yes, its always the case.
and not remembering that doesnt make me feel stressed at all
what are the other major calculation sections, anyone has a summary anywhere? its all a bit blurry now…