do we need to know this? Don’t see an los but it is in the book. Many thanks.
just know which IR to use if asked, def a tricking question if you dont know caps pay in arrears, same formula so not much to memorize
its the one of the topics not covered in schweser :S
I just glanced at the LOS listed on finquiz.com, didn’t see any specific mention of valuing a capped floater.