Explain why a plain vanilla interest rate swap and the compounding swap in Section 34.2 can be

Question:

Explain why a plain vanilla interest rate swap and the swap in Section 34.2 can be valued using the "assume forward rates are realized" rule, but a LIBOR-in-arrears swap in Section 34.4 cannot.
Compounding
Compounding is the process in which an asset's earnings, from either capital gains or interest, are reinvested to generate additional earnings over time. This growth, calculated using exponential functions, occurs because the investment will...