The Dallas Fed is currently processing fed funds loans with the following quoted rates, each for excess reserve amounts of $5 million and for a period of 24 hours. What are the interest payment amounts in dollars for each loan? Compute and graph the interest amounts in excel.
Quoted Yield
- Loan 1 0.60%
- Loan 2 0.90%
- Loan 3 1.15%
- Loan 4 1.90%
- Loan 5 2.85%
- Loan 6 3.50%
- Loan 7 4.95%
- Loan 8 6.85%