I am verifying the answers generated by an automatic system to the following question: how many percent is a basis point
Suggested answer: For example, a loan that bears interest of 0.50% per annum above the London Interbank Offered Rate (LIBOR) is said to be 50 basis points over LIBOR, which is commonly expressed as "L+50bps" or simply "L+50".
Should I validate this answer?
